The Governor of the Bank of France urges the EU to directly regulate cryptocurrency companies

ChainCatcher news, according to Bloomberg, French central bank governor Francois Villeroy de Galhau suggested transferring regulatory authority over cryptocurrency industry firms to the European Securities and Markets Authority to ensure the uniform implementation of standards within the EU.

He also called for tightening the framework of European digital asset regulations. A significant point of this framework is that it allows cryptocurrency companies to apply for licenses in individual EU member states and use these licenses as a "passport" to operate across the entire 27-country bloc. Villeroy de Galhau stated that this framework would benefit from stricter regulation of the issuance of the same stablecoin both within and outside the EU to reduce arbitrage risks during times of stress.