ESMA Warns Cryptos Threaten Financial Stability
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The European Union’s securities watchdog cautioned on Tuesday that issues within the cryptocurrency industry could threaten broader financial stability in the future, especially as the sector expands and its connections with traditional financial markets strengthen.
The European Securities and Markets Authority (ESMA) issued this warning amid global market unrest caused by US economic policies, alongside US efforts to bridge the gap between crypto and traditional banking sectors.
“EU financial markets are currently experiencing significant strain due to broader political and geopolitical developments,” stated ESMA executive director Natasha Cazenave in a speech to the European Parliament, shared on the watchdog’s website.
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