French central bank governor: US support for cryptocurrencies could trigger financial crisis

 François Villeroy de Galhau, a member of the European Central Bank (ECB) Governing Council and Governor of the Bank of France, said that the U.S. government's support for cryptocurrencies could trigger the next financial crisis. By encouraging crypto assets and non-bank financing, the U.S. government is sowing the seeds of future turmoil. Villeroy added that Europe's regulation of the crypto industry is more robust, helping to reduce systemic risks, and warned that the U.S. "may make mistakes due to negligence."