FSB Chair warns crypto risks are approaching critical threshold

Financial Stability Board Chair Klaas Knot warned that growing interlinkages between crypto and traditional finance could soon pose a systemic risk, Cointelegraph reported. During a speech held in Madrid on June 12, he highlighted concerns over retail access to crypto via ETFs and the increasing involvement of stablecoins, which now hold significant U.S. Treasury assets, strengthening crypto's ties to traditional markets.