UniCredit director Elena Carletti has warned Europe may struggle to contain a crypto bank crisis under MiCA rules.
Summary
- UniCredit’s Elena Carletti warned Europe lacks tools to backstop crypto-linked deposits the way US regulators did after SVB.
- MiCA pushes stablecoin issuers closer to banks but EU deposit insurance is capped at €100,000.
- Carletti cited Circle’s $3.3 billion stuck at SVB in 2023 as the model risk Europe has not solved.
UniCredit deputy vice chair Elena Carletti has warned that Europe may struggle to contain a crypto-linked banking shock under MiCA. The Italian bank executive said EU tools are weaker than the US emergency response of…
