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As the crypto industry grows and ties in with traditional markets, sharp price falls could increasingly disrupt the broader market, says ESMA executive director Natasha Cazenave.<\/p>\n
The European Securities and Markets Authority (ESMA) has warned that crypto will increasingly threaten traditional financial markets\u2019 stability as the industry grows and becomes more entwined with traditional finance players.<\/p>\n
\u201cWe cannot rule out that future sharp drops in crypto prices could have knock-on effects on our financial system,\u201d ESMA\u2019s executive director Natasha Cazenave said<\/a> in an April 8 statement to the Economic and Monetary Affairs Committee.<\/p>\n Cazenave noted, however, that crypto currently only accounts for 1% of global financial assets and is not yet significant enough to cause major \u201cspillover effects\u201d into traditional financial markets.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n