CFTC Commissioner: Crypto Market Vulnerabilities Are Similar to Those of 2008’s Crisis
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According to CFTC commissioner Christy Goldsmith Romero, the vulnerabilities observed in the cryptocurrency market are similar to those that were characteristic of the global financial crisis, which makes it necessary to expand the powers of the CFTC.
She has pointed to the collapse of the Terra ecosystem and the “infection” of the digital asset ecosystem that followed.
According to Goldsmith Romero, the growing interconnection between the cryptocurrency and traditional markets increases the risks to overall financial stability.
Se has explained:
“The digital asset market remains relatively small. But in the near future, this may lose relevance due to the growing interest in space from industry participants of traditional finance.”
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