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Showing posts with the label Governing Council

ECB's Villeroy says U.S. crypto support will lead to a financial crisis

Crypto Tickers: BTC, ETH, XRP Trending Hashtags: #cryptocurrency #finance #bitcoin In his statement, Villeroy de Galhau highlighted the rapid growth of cryptocurrencies and the rise of non-bank financial institutions, which he believes have the potential to destabilize the financial system. He pointed out that the lack of regulation and oversight in the crypto market could lead to market manipulation and fraud, making it a major threat to financial stability. Crypto Tickers: LTC, BCH, ADA Trending Hashtags: #regulation #financialstability #cryptomarket Furthermore, Villeroy de Galhau expressed concerns about the growing popularity of stablecoins, stating that they could pose a risk to monetary policy and the traditional banking sector. He argued that stablecoins, which are pegged to a fiat currency, could potentially undermine the role of central banks in controlling the money supply and influence interest rates. Crypto Tickers: USDT, US...