Saturday, May 21, 2022

Bank of France Governor: We Don’t Have Much Time

Must Read

Solana : Is its 34.5% rally enough to fend off possible flippening with LUNA As another week draws to a...

Skechers is Stepping into Metaverse!

After Nike and Adidas, Skechers is also stepping into the world of the metaverse. According to the announcement, the...

Uniswap Deploys to Polygon as MATIC Hits All-Time High

The world’s most popular decentralized exchange has just been turbocharged with deployment on Ethereum layer 2 aggregator Polygon. In an...

Bank of France chief said that Europe should act as quickly as possible.

The Governor of the Bank of France, Francois Villeroy de Galhau, stated that; Europe needs to act quickly on cryptocurrency regulations. The president also explained digital assets that challenge their monetary sovereignty should be carefully scrutinized.

Speaking at the Paris Europlace financial conference on June 29, Villeroy said; he believes the European Union has only “a year or two” left to establish a regulatory framework for cryptocurrencies. To sum up, according to the central bank governor’s fails to act will erode monetary sovereignty and potentially weaken the euro.

“I have to stress the urgency here: We don’t have much time left, like a year or two. In both digital currencies and payments, we need to act as quickly as possible in Europe.”

Villeroy notes that given the growing role that cryptocurrencies play in regional markets, their use of cash is declining. Therefore they should tend to a potential central bank digital currency (CBDC) space as the EU.

Cryptocurrencies A Potential Risk


In the light of this view, the head of the Bank of France had previously warned regulators of the potential risk for cryptocurrencies. Most significant points are stablecoins and central bank digital currencies (CBDC). He said in September that large tech companies could potentially build private financial infrastructures and monetary systems. As he stated that these could negatively affect financial sovereignty in the EU for decades.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Solana : Is its 34.5% rally enough to fend off possible flippening with LUNA As another week draws to a...

Skechers is Stepping into Metaverse!

After Nike and Adidas, Skechers is also stepping into the world of the metaverse. According to the announcement, the big brand will open a...

Uniswap Deploys to Polygon as MATIC Hits All-Time High

The world’s most popular decentralized exchange has just been turbocharged with deployment on Ethereum layer 2 aggregator Polygon. In an announcement on Dec. 22, Uniswap...

Chinese Companies are Competing in the ‘Metaverse’ Brand Race!

Despite the People's Bank of China's (PBOC) recent warning about the 'metaverse' and NFTs, many Chinese companies have filed for metaverse trademarks. At a meeting...

Don’t expect retail sell-off to crash Bitcoin price

Those expecting another Bitcoin (BTC) speculative price dip are looking in the wrong place, one of the industry’s best-known analysts suggested. In a Twitter discussion...
- Advertisement -

More Articles Like This

- Advertisement -