ECB Flags Risk of Financial Infection From US Cripto Push

The European Central Bank (ECB) raised the alarm over the potential relegation from aggressive American support for the crypto industry, warning to increase the dollar in dollar in a dollar, which supports the financial system in Europe.

Toward In the political work that Video Policy, the ECB requested the market audit in the Krupto-Function (MICA) regulatory framework (MICA) for cryptocurrency only a few months after it came into force.

Concerns are that American reforms supported by President Donald Trump could flood European Markets with dollars in the amount of dollars.

ECB fears could run the European capital flight to American property, undermining the financial sovereignty of the EU and bank presentation that liquidity risks.

ECB and the European Commission clashes about the rules of Mike

Although the ECB calls for tighter controls, the European Commission rejected the warning as exaggerated, according to the report.

The report, which lists two diplomats and one EU official, said the existing MICA framework is robustly enough to manage Stablecoin’s risks despite potential American policies like The transparency and accountability of Stablecoin for a better main economy (stable) and Leading and establishing national innovation for American Stablecoins (Genius)Two laws aimed at expanding with American crypt’s trace.

“The Commission was quite clear that they had different views on this topic,” and “not very many (countries) supported the idea of ​​jumping with a gun and start changing (the rules) based on that,” One of the diplomats allegedly said politics.

StableCoin Sector is now commanding $ 234 billion assessment COINMARKETCAP data.

The ECB warned that European issuers could face the purchase pressure from EU holder and foreign boundaries without stricter borders, potentially causing financial “leading” and application of exposed institutions.

“Worrying is justified,” Mikko Ohtamaa, co-founder and director and director at the trading strategy, said in the post to KS. “However, the EU had the first advantage with the regulation of the Regulation and that they found it.”

Ohtamaa said that no EU’s position is globally competitive due to the restrictive rules of Mico, affected by the bank lobby and a legacy.

Related: American regulator, with FDIC and CFTC, facilitate restrictions for CRIPTO for banks, derivatives

Tether remains the main critic of Mica

Tether, the publisher of the world’s largest in the world, USDTTHe has long been a critic of the EU Regulation on Mic.

Last year, CEO Paolo Ardoino claimed that Mića’s needed request, especially the term for StableCoin publishers to retain 60% reserves in EU accounts, It could be introduced system risks on both stablecoins and a broader banking system.

Due to non-thoughting with Mico, Tether’s USDT (USDTT) is facing removing large European exchanges, including Coin, Cripto.com and Kraken.

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