Member of the European Central Bank Supervisory Committee: US support for cryptocurrency and non bank finance lays the foundation for future turbulence

According to Bloomberg, Francois Villeroy de Galhau, a member of the Governing Council of the European Central Bank, stated that US support for cryptocurrencies and non bank finance could trigger the next financial emergency. In an interview with the French weekly "Sunday Forum", Galhau said, "The United States may commit crimes due to negligence. Financial crises often originate in the United States and spread to other parts of the world. By encouraging cryptocurrency and non bank finance, the US government is sowing the seeds of future turbulence." Galhau added that European regulation is more secure and stated that there is no risk of a banking crisis in the European Union.