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🚨📣: The Bank of Italy has expressed concerns about the growing influence of cryptocurrencies in traditional finance, citing systemic risks and the concentration of power under Trump.
The bank highlighted the sharp increases in digital asset prices following the US election and its administration's crypto-friendly initiatives.
The global cryptocurrency market is valued at $2.75 trillion, with Bitcoin alone accounting for more than 60% of this figure.
The bank also warned of conflicts of interest, governance gaps, and the concentration of cryptocurrency power in a small number of US-based companies.