According to CrowdFund Insider, outgoing Financial Stability Board (FSB) Chairman Klaas Knot has issued a stern warning that the cryptocurrency market may be approaching a "tipping point" that could pose systemic risks to the global financial system.
"At the FSB, we have long maintained that crypto does not yet pose a systemic risk, but recent developments suggest we may be approaching a tipping point," PymntsCrypto Knot stated during his speech in Madrid on Thursday. He specifically highlighted concerns about stablecoin integration with traditional finance, noting that "stablecoin issuers now hold substantial amounts of U.S. Treasuries. This is a segment we must monitor closely."