Francois Villeroy de Galhau, a member of the European Central Bank (ECB) Board Council and Governor of Bank of France, has said the embrace of cryptocurrency in the US risks triggering the next financial emergency.

The United States “risks sinning through negligence,” Villeroy said in an interview with the French newspaper La Tribune Dimanche.

“By encouraging crypto assets and non-bank financing, the US administration seeds the seeds for future upheavals,” he said, adding that supervision of the crypto industry is safer in Europe.

Donald Trump brought the cryptocurrency industry as part of his return to the White House last year, and as president has signed an executive order for the establishment of a strategically Bitcoin reserve and a separate trove for other digital assets.

Villeroy added that Europe has to attract more international investors to the euro to help the currency take on a more important role internationally in the light of President Trump’s customs policy.