Ahead of the MiCA Vote, the Governor of the French Central Bank has called for Stricter Crypto Regulations
- Bank of France Governor Francois Villeroy de Galhau has urged for more regulatory frameworks for cryptocurrency enterprises, even as European Union nations plot a route toward comprehensive regulation.
- Because of the recent volatility in the industry, Villeroy believes France should not wait for European standards to take effect before mandating licencing for Digital Asset Service Providers (DASPs).
- DASP licencing laws are currently optional. Persons that perform “crypto trading” and “custody services” on behalf of third parties, on the other hand, must register with the AMF.
- France has a lax regulatory system for digital asset providers, which has often hampered its attempts to position itself as the top player country among EU states.