PANews reported on April 1 that according to CoinDesk, the three major EU regulatory agencies, including ESMA, pointed out in a joint report released on April 1 that the United States' increasingly crypto-friendly policy stance is deepening the linkage between crypto assets and traditional financial markets, which may increase systemic risks. The report mentioned that the US's deregulatory policy is expected to push up crypto valuation volatility, and if there is a lack of corresponding guarantees, it may trigger negative spillover effects on traditional finance. ECB officials also called for the development of a digital euro to cope with the high volatility of crypto assets and the global expansion of dollar-dominated stablecoins.