Bank of France Governor Thinks Crypto Companies Should Abide by Stricter Rules

Francois Villeroy de Galhau – Governor of Banque de France – believes cryptocurrency firms should obtain tougher regulatory licenses to continue providing their services.

The also stated France should introduce stricter rules for domestic digital asset entities as soon as it is ready with its legislation instead of waiting for other European countries. The disruption seen in 2022 is nourishing one basic conviction: France should switch as soon as possible to the compulsory authorization of DASPs (digital asset service providers) rather than simply requiring their registration. And this needs to happen well before MiCA enters into force to create the necessary framework of trust.