The rise of cryptocurrencies was not always done in a very welcoming environment. Indeed, many financial and political officials have tried to block them in the years. And while the Stablecoins create the event, the outgoing president of the financial stability council puts the cover back to Madrid.
Cryptocurrencies vs systemic risk
The current adoption of cryptocurrencies is not simply a logical step in the development of this digital ecosystem. This is much more than a Victory obtained from Haute Against all attempts to block them.
This is the reason why taken their account in the stock and institutional sectors has everything of a symbol. All the more if we consider the unprecedented reception reserved for the historical approval of ETF Bitcoin Spot on the American market.
And what about Current Success of Stablecoins ? These stable cryptocurrencies hitherto relegated to the rank of simple trading tools capable of avoiding going through the capital gains box.
✏️ The Stablecoins arrive in force, and this is not good news
Indeed, these are now Banking giants that enter the race. Such as Société Générale, which has become The 1st bank in the world to emit a stablecoin leaning against the dollar on a public blockchain. A great way to motivate competition.
However, this digital boom does not necessarily make everyone happy. Such as the outgoing president of the financial stability council, Klaas Knotwho did not fail to recall this during one of his last interventions in Madrid.
Barriers for retail users have decreased considerably, in particular with the introduction of cryptographic ETFs – interconnections with the traditional financial system continue to grow. The cryptographic ecosystem will continue to evolve – just like our regulatory executives.
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As approaching a “Tilting point” critical ?
To understand the scope of this intervention, it is above all necessary to lay the context. Indeed, Klaas Knot held several important positions during his career. Like that of President of the Dutch Central Bank. And as much to say that this type of position is combined badly with an attraction for the development of private monetary solutions such as stablecoins.
Because it's good The subject of these stable cryptocurrencies who has visibly worried the economist. Especially due to Their direct link with the US Treasury Buom Marketwidely used to secure the reserves of their transmitters. A “segment” that Klaas Knot wishes to “watch closely”.
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But that's not all. Indeed, the future president of the financial stability council also identifies A “tilting point” apparently approaching. Indeed, he explains how this body has long argued that Crypto has no systemic risk yet ». But it seems that this is now the case!
With this alarmist speech, Klaas Knot joins the opinion of the European Central Bank concerning the risks associated with stablecoins. A position that some analysts consider as simply strategic, in order to Drive your digital euro project. Or how to prepare to miss the innovation again that shakes the rest of the world.
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Source: Bloomberg
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Passionate about cryptocurrencies and the principle of decentralization for many years, I want to share this experience with the greatest number. I also focus on deciphering the issues associated with the evolution of this ecosystem within traditional finance.
