News list for "Bank of France"
France has urged the European Union's top market regulator to begin regulating major cryptocurrency firms as soon as major players expand across the continent. In a speech on Thursday, the governor of the Bank of France, François Villeroy de Gallo, suggested transferring regulatory authority over the sector's operations to the European Securities and Markets Authority to guarantee uniform application of standards across the European Union.
François Villeroy de Galhau, a member of the Governing Council of the European Central Bank (ECB) and governor of the Bank of France, said that the US government's support for cryptocurrencies could trigger the next financial crisis, and by encouraging crypto assets and non-bank financing, the US government is sowing the seeds of future turmoil. Villeroy added that Europe's more robust regulation of the crypto industry could help reduce systemic risk, warning that the US "could err by negligenc...
The governor of the Bank of France, Villeroy, on Wednesday reiterated that U.S. President Donald Trump's tariff policy is likely to have a negative impact on the economy. "Protectionism is an attractive short-term policy, but in the long term it is a losing strategy," he added. Villeroy also reiterated that France is likely to avoid a recession in 2025. The French economy is on track to grow by 0.1-0 percent in Quarter 1 compared with the previous three months, the Bank of France said on Tuesday...
Bank of France Governor Villeroy: Bitcoin remains a high-risk asset.
On June 27, the Hong Kong Monetary Authority said it would cooperate with the Bank of France to explore central bank digital currency opportunities.
Denis Beau, first deputy governor of the Banque de France, the French central bank, recently revealed that the central bank's prudential regulator, ACPR, is working with the industry to certify smart contracts. "In 2024, we will continue to work with stakeholders on an important recommendation of the ACPR, which is to make smart contracts mandatory before they can be used." Mr. Beau pointed out that France's early crypto-asset regulations have largely influenced the MiCA regulations.
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