European Central Bank Governing Council Member: US Support for Crypto Assets and Non-Bank Finance Saves the Way for Future Turbulence
2025-03-16 09:07:41
US support for cryptocurrencies and non-bank finance risks triggering the next financial emergency, according to Francois Villeroy de Galhau, a member of the governing council of the European Central Bank. In an interview with the French weekly Tribune du Sunday, he said: "It is possible for the US to commit crimes through negligence. Financial crises often originate in the US and spread to other parts of the world. By encouraging crypto assets and non-bank finance, the US government is sowing the seeds of future turmoil." Galhau added that European regulation was more secure and said there was no risk of a banking crisis in the European Union.
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