ECB seeks urgent regulation after multiple crypto bubbles burst

Published by
Reuters UK

FRANKFURT (Reuters) – Crypto assets are here to stay so their regulation is urgently needed to protect investors and the stability of the global financial landscape, European Central Bank board member Fabio Panetta said on Wednesday. Crypto investors suffered a series of blows this year from the collapse of the FTX exchange, to the crash of stablecoin TerraUSD and the decline of Bitcoin. “This is not just a bubble that is bursting. It is like froth: multiple bubbles are bursting one after another,” Panetta said in a speech in London. “Investors’ fear of missing out seems to have morphed into a…

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