Crypto Regulation Remains an Urgent Policy, Despite Bear Market: ECB’s Villeroy

Francois Villeroy de Galhau – a member of the European Central Bank and Governor of Banque de France – thinks the diminishing interest in cryptocurrencies due to the market crash does not mean authorities should abandon plans to regulate the industry.Last year, he argued that imposing rules on the digital asset sector is essential for Europe as otherwise, the euro might lose some of its strength.

In a recent appearance, Francois Villeroy de Galhau reiterated his position that the cryptocurrency industry should function under a comprehensive regulatory regime. He outlined the current market decline and the fact that numerous investors prefer not to delve into the asset class at the moment. She noted that people’s desire to employ digital payments has increased in the past few years, so the monetary institution should respond to that demand.

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