ECB Governing Council Member: US support for crypto assets and non-bank finance sows the seeds for future turmoil

 Francois Villeroy de Galhau, a member of the European Central Bank's management committee, said that the US support for cryptocurrencies and non-bank finance could trigger the next financial emergency. In an interview with the French weekly "Sunday Forum", he said: "The US may commit crimes due to 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 unrest." Galhau added that European regulation is more secure and stated that there is no risk of a banking crisis in the EU.