{"id":7482,"date":"2022-09-29T07:56:00","date_gmt":"2022-09-29T07:56:00","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=7482"},"modified":"2022-09-29T07:56:02","modified_gmt":"2022-09-29T07:56:02","slug":"french-central-banker-warns-complex-crypto-regulations-could-create-uneven-playing-field","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7482","title":{"rendered":"French Central Banker Warns Complex Crypto Regulations Could Create &#8216;Uneven Playing Field&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The governor of France\u2019s central bank, Fran\u00e7ois Villeroy de Galhau, has urged EU regulators to \u201cavoid adopting diverging or contradictory regulations, or regulating too late.\u201d He warned that \u201cTo do so would be to create an uneven playing field, risking arbitrage and cherry picking.\u201d<\/strong><\/p>\n<h2>French Central Bank Governor Warns About Adopting \u2018Unduly Complex\u2019 Crypto Regulations<\/h2>\n<p>Banque de France Governor Fran\u00e7ois Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central banker stressed:<\/p>\n<p>We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late. To do so would be to create an uneven playing field, risking arbitrage and cherry picking.<\/p>\n<p>Villeroy de Galhau added that \u201cunduly complex\u201d crypto regulations could fall short of investor protection and money laundering prevention.<\/p>\n<p>The European Commission introduced the Markets in Crypto Assets Regulation (MiCA) bill in September 2020 as part of its digital finance strategy to bring crypto assets, issuers, and service providers across the EU under one regulatory framework. The European Parliament and Council reached a provisional agreement on the MiCA bill on June 30, but MiCA is not expected to be implemented until 2024.<\/p>\n<p>The European Central Bank (ECB) outlined in August its plan to harmonize the regulatory framework governing crypto activities and services in the EU. \u201cThere is currently no harmonized regulatory framework governing crypto-asset activities and services in the EU,\u201d the regulator explained, adding that banks are increasingly considering whether to offer crypto products and services, and it is the ECB\u2019s role to \u201censure they do so safely and soundly.\u201d<\/p>\n<p>The European Securities and Markets Authority (ESMA), the EU\u2019s top securities markets regulator, warned in May that soaring inflation may drive retail investors into cryptocurrencies. ECB Vice President Luis de Guindos said Monday that eurozone inflation is becoming increasingly broad while growth is weakening. \u201cWe are seeing that in the third and fourth quarters there is a significant slowdown and we may find ourselves with growth rates close to zero,\u201d he detailed.<\/p>\n<p>Tags in this story<\/p>\n<p>Banque de France, Banque de France bitcoin, Banque de France crypto, Banque de France cryptocurrency, Banque de France Governor, eu crypto regulation, France, Fran\u00e7ois Villeroy de Galhau, Fran\u00e7ois Villeroy de Galhau crypto, Fran\u00e7ois Villeroy de Galhau cryptocurrency, french central bank<\/p>\n<p><em><strong>What do you think about the comments by Banque de France Governor Fran\u00e7ois Villeroy de Galhau? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/french-central-banker-warns-complex-crypto-regulations-could-create-uneven-playing-field\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The governor of France\u2019s central bank, Fran\u00e7ois Villeroy de Galhau, has urged EU regulators to \u201cavoid adopting diverging or contradictory regulations, or regulating too late.\u201d He warned that \u201cTo do so would be to create an uneven playing field, risking arbitrage and cherry picking.\u201d French Central Bank Governor Warns About Adopting \u2018Unduly Complex\u2019 Crypto Regulations [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-7482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7482"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7482\/revisions"}],"predecessor-version":[{"id":7484,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7482\/revisions\/7484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7483"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}