ECB official: US support for crypto assets could trigger the next financial crisis

According to Bloomberg, European Central Bank Governing Council member Francois Villeroy de Galhau said that the United States' support for cryptocurrencies and non-bank finance could sow the seeds of the next financial turmoil. In an interview with the French Sunday newspaper "Le Forum", he said: "The United States may make a grave mistake out of negligence, as financial crises have often originated in the United States and spread globally. The US government, by encouraging the development of cryptocurrencies and non-bank finance, is actually sowing the seeds of future turmoil." He also stressed that Europe's regulatory measures are more comprehensive and that the EU banking sector does not face financial risks.