The outgoing chairman of the Financial Stability Board (FSB), Klaas Knot, has warned that the cryptocurrency market may be approaching a 'critical point' that could pose systemic risks to the global financial system. He noted that stablecoin issuers hold a large amount of U.S. Treasury bonds and are becoming increasingly interconnected with traditional finance, especially as cryptocurrency ETFs significantly lower the entry barriers for retail investors. Regulation needs to be upgraded: 'The crypto ecosystem is evolving, and the regulatory framework must adjust accordingly.' (CrowdfundInsider)