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Crypto markets may pose risks to wider financial stability, ECB warns

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Reuters UK

By Francesco Canepa and Tom Wilson FRANKFURT (Reuters) -Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sharply this month after the downfall of major “stablecoin” terraUSD. The crash has led to calls from the world’s top financial leaders for “swift and comprehensive” regulation of the sector. Cryptocurrencies – historically a niche asset favoured by risk-hungry investors, exploded in size duri…

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