Government & Regulation

The European Central Bank has issued a stark warning about the risks posed by the rapidly growing stablecoin market, citing potential capital flight from eurozone banks and the threat of a ‘digital bank run’ that could trigger a global financial crisis. However, industry figures counter that stablecoins, with their full reserve requirements, could actually enhance financial stability.

Malaysia, a significant player in Bitcoin mining, has suffered over €970 million in losses from electricity theft by illegal crypto mining operations since 2020. Authorities are cracking down, deploying smart meters and collaborating with utility firms to combat the issue, which has led to arrests and equipment seizures.