The governor of the Bank of France is of the opinion that crypto companies should adhere to stricter rules
The governor of the Bank of France is of the opinion that crypto companies should adhere to stricter rules
Francois Villeroy de Galhau-Governor of the Banque de France-believes that cryptocurrency companies should receive stricter official licenses in order to continue to offer their services.
He also said that France should introduce stricter rules for domestic companies for digital assets as soon as it is ready with its legislation instead of waiting for other European countries.
Villeroy's latest recommendation
according to According to the central banker, cryptocurrency companies should receive stricter permits from supervisory authorities than the existing ones due to the current "unstable environment".
around 60 organizations, including Binance, have received the registration of The Authorité of the Marchés Financiers (AMF) to offer their products and services in the European nation. However, no one has the license that Villeroy is pushing. The governor claimed that the latest chaos in the world of cryptography, which brought numerous bankruptcy, drainage of investor interests and a decline in market, the main reason was why France should accelerate such changes: "The disruption to be observed in 2022 nourishes a basic conviction: France should switch to the mandatory approval of DESPS (Digital Asset Service Providers) as soon as possible, instead of only demanding their registration. create. " The European Union (EU) approved The Markets in Crypto-Assets (Mica) Ordinance in October last year. The upcoming draft law could determine a corresponding licensing system for stock exchanges and other companies that will apply to all 27 members of the block. will concentrate specifically on combating tax evasion and money laundering and could come into force in 2024. Villeroy previously pushed to create a regulatory framework for cryptocurrencies, otherwise the old continent Dominance could lose while the euro could suffer a disadvantage: "Whether it is about digital currencies or payments, in Europe we have to be ready to act as quickly as necessary or to take the risk of erosion of our monetary sovereignty."
He also said that the EU had a year or two to introduce such laws, or the continent could "lose its impetus". Villeroy expressed his thoughts in the summer of 2021, which means that the potential bill could appear in the following months (provided that European supervisory authorities take into account his recommendation). . François Villeroy de Galhau, Bloomberg
Not much time