ECB Governing Council: Disorderly Development of Crypto Assets Risks "Private" Fragmentation

ndf@newsletter.paragraph.com (ndf) — Mon, 16 May 2022 07:37:15 GMT

On May 16, Villeroy, the governing board of the European Central Bank, said that there is a risk of “private” fragmentation in the disorderly development of cryptocurrency assets, including the misnamed “stablecoins.” If crypto-assets are not regulated, supervised and interoperated in a consistent and appropriate manner across different jurisdictions, they could disrupt the international financial system.