The European Securities and Market Authority (ESMA) has raised concerns about the concentration of cryptocurrency trading in a few exchanges, particularly Binance, and the potential implications of a major exchange failure. The report also highlights the lack of regulation for crypto assets and service providers, as well as the increasing stress on credit card accounts and mortgage originations in the US. The Federal Reserve Bank of Philadelphia’s report indicates a growing share of credit card accounts past due on their payments, reaching a 12-year high, while mortgage originations have declined to the lowest number seen since 2012.
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