Regulatory Series on Cryptocurrencies: French Central Banker on Cryptocurrency Regulation

The central bank governor Francois Villeroy de Galhau mentioned the task force would investigate and assess as to how the digital assets should be regulated.

In the recent past, the French government has already passed a bill for financial sector law that included rules intended for aspiring cryptocurrency dealers and investors to establish in France by giving them some authentic recognition, that clarifies the nation’s tax regime on their taxable income.

French authorities are intending to create a cryptocurrency task force for the G7, the governor of France’s central bank said.

Speaking to financial reporters, Francois Villeroy de Galhau said that the task force would look at how regulators can ensure digital assets meet compliance standards, ranging from customer protection rules to anti-money laundering legislation.

Thereby, the French government’s new cryptocurrency bill will enable firms who wish to issue new cryptocurrencies or trade existing ones to apply for certification. By giving cryptocurrencies official recognition, France hopes to establish a credible market for blockchain companies, as per CNBC sources.

Le Maire, “French Minister of the Economy and Finance” made his remarks at an event on blockchain technology in Paris “I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience.” “Our model is the right one,” he appended.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 150 levels (which is highly bullish), while hourly USD spot index was at -108 (highly bearish) while articulating at (12:21 GMT).

For more details on the index, please refer below weblink:

By Niranjan Patil
  • Market Data

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