FSB Chairman: Cryptocurrencies are reaching a "critical point" of systemic risk and may pose risks to the global financial system

ChainCatcher news, according to CrowdfundInsider, the outgoing chairman of the Financial Stability Board (FSB) Klaas Knot issued a stern warning that the cryptocurrency market may be approaching a "tipping point," which could pose systemic risks to the global financial system. He stated, "Stablecoin issuers currently hold a significant amount of U.S. Treasury bonds. We must closely monitor this area."

"The threshold for retail users has been significantly lowered, especially after the launch of cryptocurrency ETFs. The connections to the traditional financial system continue to strengthen." Knot emphasized the necessity of proactive regulation, noting, "The crypto ecosystem will continue to evolve, and our regulatory framework must do so as well."