Concerns Raised Over U.S. Support for Cryptocurrency and Non-Bank Finance

According to PANews, Francois Villeroy de Galhau, a member of the European Central Bank's Governing Council, has expressed concerns that U.S. support for cryptocurrency and non-bank finance could potentially lead to the next financial emergency. In an interview with the French weekly Le Journal du Dimanche, Galhau stated, "The United States may inadvertently commit a grave mistake. Financial crises often originate in the U.S. and spread to other parts of the world. By encouraging crypto assets and non-bank finance, the U.S. government is sowing the seeds of future turmoil." He further emphasized that Europe's regulatory framework is more secure, asserting that the European Union faces no risk of a banking crisis.