CCN: Bank of Italy highlights global financial dangers and threats to Europe’s monetary sovereignty as US crypto surge intensifies

In a recent report, the Italian central bank warned that the surge in US crypto activity, particularly following the U.S. presidential election, could pose substantial financial risks to global markets. The rise of stable coins like Tether and USDC, which are pegged to the U.S. dollar, could potentially distort international capital flows and undermine Europe’s monetary sovereignty. The Bank of Italy highlighted that if these stable coins gain systemic…