The European Central Bank is ramping up its warnings of the crypto market, deflating further sentiment that has plagued the industry over the past six months. Flagship crypto Bitcoin (BTC-USD) slid another 4% to under the $29,000-level early Tuesday, adding to its 57% loss seen since a high of $67,802 recorded back in November. The latest warnings came as part of the ECB's Financial Stability Review following similar caution expressed by regulators in the U.K. and the U.S. Excerpt: "Investors have been able to handle the €1.3T fall in the market capitalization of unbacked crypto assets since November 2021 without any financial stability risks being incurred," the ECB said in its review. "However, at this rate, a point will be reached where unbacked crypto assets represent a risk to financial stability. Given the speed of crypto developments and the increasing risks, it is important to bring crypto assets into the regulatory perimeter and under supervision
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