The Bank of France cited the need for an international study to regulate crypto companies.
The crypto industry is facing a variety of news feeds from countries. Crypto processes initiated by US regulatory agencies continue to resonate in other countries.
François Villeroy de Galhau, Governor of the Bank of France, called for international cooperation for the regulation of cryptocurrencies at an event he attended.
Bank of France Points to Cryptocurrencies
The Bank of France shared its thoughts on crypto regulations. The central bank of France states that crypto needs to be regulated globally.
Bank of France Governor François Villeroy de Galhau attended the VivaTech event in Paris. Speaking at the event, Villeroy de Galhau expressed the need for an international collaboration to regulate crypto companies.
Villeroy de Galhau said that these days when crypto is used globally, it does not seem possible to regulate a legal entity in a single jurisdiction. Villeroy de Galhau also mentioned the regulatory environment in the USA, and stated that these institutions have various legal entities and therefore an international cooperation is required.
France adopted the European Union’s crypto regulation, MiCA, in recent months. MiCA is a crypto regulation accepted in 27 countries in Europe.
However, the Bank of France argues that regulations should be applied globally.
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