Financial Stability Board Chairman warns: Cryptocurrencies are reaching a systemic risk 'tipping point'

According to CrowdfundInsider, outgoing Financial Stability Board (FSB) Chairman Klaas Knot has issued a stern warning that the cryptocurrency market may be approaching a "tipping point" that could pose systemic risks to the global financial system. "The issuer of stable currency currently holds a large number of US treasury bond bonds. We must pay close attention to this area," he said. The threshold for retail users has been significantly lowered, especially after the launch of cryptocurrency ETFs. The connection with the traditional financial system continues to strengthen. ”Knot emphasized the necessity of proactive regulation, stating, "The crypto ecosystem will continue to develop, and our regulatory framework must do the same