Europe less able than US to contain crypto bank shocks
UniCredit director Elena Carletti says Europe lacks US-style deposit protections for crypto. EU rules link stablecoins to banks without providing insurance.
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UNICREDIT SPA warned Europe lacks systemic safeguards to contain crypto-banking shocks like those the United States deployed during the 2023 crisis. U.S. authorities guaranteed all deposits, including those of crypto firms, after Silicon Valley Bank's collapse. The regulatory gap exposes European banks as digital asset rules tighten stablecoin-banking ties.
