2023-06-16 17:05:00
Cryptocurrency regulation in Europe
On the other hand, the company’s decision to establish its European headquarters in Paris is seen as a win for the French government’s efforts to establish the country’s capital as a hub for cryptocurrency and financial technology companies. Meanwhile, Gao hailed the country as one of the “pro-cryptocurrency” jurisdictions.
In April, European lawmakers gave their final approval to the European Union’s Markets in Crypto Assets, or “MiCA,” a law that will give the bloc its first rules for controlling the cryptocurrency industry. The regulation is the first attempt by governments to oversee a nascent industry on such a scale, and it follows the collapse of several large players including the cryptocurrency exchange FTX.
During a conference in Paris on Friday, Banque de France governor François Villeroy de Gallau said international cooperation is necessary to regulate cryptocurrency blocs, adding that a new version of the EU’s regulation, “MiCA 2”, may be needed to regulate such companies.
CoinDesk reported on the French investigation earlier on Friday.
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