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FTX Collapse Shows Need for EU Crypto Monitoring, Lawmaker Says

  • Tinagli says spillover risk is small, but market is growing
  • European Parliament economic panel chair speaks in interview

The European Union should step up the monitoring of digital currencies to prevent a situation where crypto crises like the collapse of the FTX exchange can pose a systemic risk, a key European lawmaker said.

The crypto spillover risk is small at the moment, but the market has grown exponentially, said Irene Tinagli, a member of the European Parliament.