A French central bank official has called for strengthening provisions on non-euro stablecoins in the European Union's crypto regulation MiCA, Cointelegraph reported on Thursday.
France's parliament is separately advancing a bill that would require reporting for self-custody cryptocurrency wallets.
Denis Beau (드니 보), senior deputy governor of the Bank of France, urged in a March speech at a EUROFI high-level seminar that the EU should restrict the use of stablecoins, especially those pegged to non-euro currencies, as a means of payment. In the speech published on the BIS website on Thursday, Beau said the Bank of France has "consistently called" for strengthening MiCA rules on the issue.
With dollar-pegged stablecoins accounting for 98 percent of the overall stablecoin market, Beau stressed the need for tokenised central bank money, support for private money, and tougher regulation. He said MiCA only partially addresses risks caused by industry changes, including the case in which stablecoins issued by non-European issuers are widely adopted.
Chi-kyu Hwang
delight@d-today.co.kr