While the past year has been rocky for decentralized finance (DeFi) and crypto, there was only limited impact on the financial system.
The crypto market has few connections with the real economy and traditional finance (TradFi), and none of those connections are significant at this time according to a report published by the European Systemic Risk Board (ESRB) on May 25.
For instance, while the ECB has warned of the potential systemic risk of cryptocurrencies, the ESRB goes a step further.
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