The Governor of the Banque de France, François Villeroy de Galhau, deplored on Tuesday that certain large countries are “less advanced” than the European Union on the regulation of crypto-assets and called for “avoiding the adoption of divergent or contradictory regulations”. , even too late.
Crypto players operate globally, and even their location is sometimes difficult to determine, said the governor at the opening of a dedicated conference the role of central banks in tokenization (the fact of transferring the right of ownership of certain assets to virtual tokens, Editor’s note) of finance.
It is difficult not to see this as a criticism of the American authorities, even if the governor of the French central bank did not mention the United States by name. He noted that other major jurisdictions are less advanced than the European Union, which succeeded in July agree on a draft legal framework titled MiCA, although it still needs to be formally approved before coming into effect.
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Let’s stay coordinated and enforce (regulation) in all jurisdictions, he added, saying falling cryptocurrency prices are no excuse for complacency or inaction.
In the USA, the regulation of cryptocurrencies focuses primarily around the creation of a digital dollar. US President Joe Biden signed a decree in March asking the Treasury Department to submit a report on the future of the currency within six months. He finally received nine, who recommend continuing work on the subject, but do not advance any chance.
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The Banque de France is also working with the European Central Bank (ECB) on the possible creation of a digital euro. Mr. Villeroy de Galhau also declared that the experiments of the Banque de France concerning a central bank digital currency were going to resume, after nine exercises that ended with promising results. Three new experiments should see the light of day soon.
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