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French Central Banker: The World Needs to Standardize Crypto Regulations

A French central banker is calling for a global regulatory framework on crypto assets.


In a speech at an Official Monetary and Financial Institutions Forum (OMFIF) meeting in London on Tuesday, Denis Beau, a deputy governor of Banque De France, said:


“There is indeed a need for overall consistency to prevent regulatory arbitrage under the ‘same activities, same risks, same rules’ principle.”


And the only way to ensure that, he said, is with a standardized regulatory regime.


The comments come as Libra, the Facebook-led digital currency project, has raised the ire of regulators and central banks as a threat to the financial world order.


Comparing Libra to central bank-issued digital currencies (CBDC), Beau said the yet to be launched coin “may achieve significant market power, thus posing risks to security and financial stability.” Read More...

#Regulations #France

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