Francois Villeroy de Galhau, the Bank of France (BoF) governor, has called for a stricter licensing regime for digital asset providers following the recent market events.
According to a Jan. 6 report by Bloomberg, the governor told Paris’ financial sector that due to the recent crypto market crisis, the country should make it mandatory for Digital Asset Service Providers (DASP) to secure licensing from authorities before offering services to French investors.
Galhau told the financial sector to quickly move on with the licensing regulations, especially ahead of the Europe-wide rules expected to launch next year.
“All the disorder in 2022 feeds a simple belief: it is desirable for France to move to an obligatory licensing of DASP as soon as possible, rather than just registration,” Villeroy said.
(By William A. Frederick)
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