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ECB Official Warns US Crypto Policies Could Trigger Next Financial Crisis
ECB Official Warns US Crypto Policies Could Trigger Next Financial Crisis
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European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau has warned that the US’ growing embrace of cryptocurrencies and non-bank financial institutions could lead to the next financial crisis. In an interview with French weekly La Tribune Dimanche, Villeroy cautioned that the US is taking a dangerously negligent approach toward crypto regulation, stating that ’The United States risks sinning through negligence.’ He further added that ’financial crises often originate in the United States and spread to the rest of the world. By encouraging crypto-assets and non-bank finance, the American administration is sowing the seeds of future upheavals.’
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