As the crypto industry becomes more closely linked to traditional finance, the next crypto collapse could cause broader financial instability, according to a new report from the Organisation for Economic Co-operation and Development.

Researchers behind the report assert that the failures of these firms exposed the interconnectivity between businesses in crypto. OECD experts write that “this increases risks of wide-scale disruption and contagion within the crypto-asset markets if any of these dominant players faces difficulties in the future.”

The OECD calls for international collaboration on crypto policy to avoid regulatory arbitrage opportunities and avoid fragmentation in regulation around the world.