The EU’s financial services chief has urged US politicians to draw up sweeping new rules to govern the crypto industry, warning digital assets could pose a threat to financial stability if left to grow unchecked.
Mairead McGuinness, the European Commission’s financial services commissioner, told the Financial Times that any regulation imposed on the industry would need to be global in order to work.
“We do need to see other players also legislating,” McGuinness said, referring to countries that are beginning to follow the EU’s lead on crypto regulation, “perhaps differently, but with the same objective . . . We need to look at global regulation of crypto.”