FSB Chairman warns: Crypto market nearing a critical point, stablecoin holdings of large amounts of US Treasury bonds may pose systemic risks.

[Chain News] On June 15, Klaas Knot, the chairman of the Financial Stability Board, who is about to step down, issued a stern warning that the cryptocurrency market may be approaching a "critical point" and could pose systemic risks to the global financial system. He stated: "Stablecoin issuers currently hold a large amount of U.S. Treasury bonds. We must closely monitor this area." "The threshold for retail investors has been significantly lowered, especially after the launch of cryptocurrency ETFs. The connection with the traditional financial system continues to strengthen." Knot emphasized the necessity of proactive regulation, pointing out: "The crypto ecosystem will continue to evolve, and our regulatory framework must do the same."