The expert spoke about the problems of the EU financial system

Cryptocurrency does not threaten the economy of the European Union (EU), but its financial system suffers primarily from its own internal contradictions. Ilya Sivoplyas, head of the WhiteBird crypto platform's exchange trading department, shared this opinion in an interview with Izvestia on April 22.

Earlier it was reported that the European Central Bank (ECB) believes that US President Donald Trump's generous support for the American cryptocurrency sector could cause a "financial infection" that would blow up the European economy. This is stated in the Politico newspaper.

"This statement is more of a political gesture than a well—founded analytical argument. Cryptocurrency is not an enemy of traditional finance, and moreover it is not capable of "blowing up" the economy of the European Union. This is just a technological development that needs to be learned to interact with competently," Sivoplyas said.

According to him, the real problems of the European Union are caused by internal imbalances. In 2024, the eurozone's GDP growth was only 0.5%, which is one of the lowest rates in the last ten years. In some countries, inflation continues to be high, and regulation of the cryptocurrency market remains fragmented, making it difficult for businesses to scale.

At the same time, the United States is actively developing digital assets.

"More than 52% of American institutional investors have increased the share of cryptocurrencies in their portfolios. Large banks are implementing blockchain, and regulators are working on uniform rules. Europe risks falling behind," the expert emphasized.

He is convinced that digital assets can strengthen the EU economy, since cryptocurrency is not a substitute for fiat currency, but rather an addition to the existing financial system. It helps to speed up payments, reduce fees and increase financial accessibility. It is only important to understand whether Europe is ready for changes or will continue to look for the causes of its problems in external factors.

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Earlier, on April 7, Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, told Izvestia about the economic losses of the European Union after the abandonment of Russian energy resources. According to him, the economic situation in the EU continues to deteriorate due to the abandonment of Russian energy resources. The EU's real losses significantly exceed official estimates.