🟦The growth of the crypto industry and its integration with traditional financial structures (TradFi) may pose a threat to global economic stability, according to ESMA Executive Director Natasha Cazenave. She noted that while digital assets account for only 1% of total financial assets, their influence is growing — especially in the United States. Even minor shocks in the crypto space could trigger widespread disruptions.
🟦Cazenave highlighted the risks associated with stablecoins, crypto funds, hacking incidents, and events like the collapse of FTX. She called for enhanced oversight of the sector, despite the recent implementation of the MiCA regulation in the EU.