International cooperation is necessary to regulate crypto conglomerates, according to the head of the central bank of France. Speaking at a tech forum in Paris, Governor Villeroy de Galhau also suggested that a new version of the EU’s recently adopted crypto law may be needed to deal with the issue.
Regulation in Single Jurisdiction Insufficient in Case of Crypto Giants, Villeroy Convinced
Cooperation on the international level is needed to regulate crypto conglomerates, the Bank of France Governor, Francois Villeroy de Galhau, stated at an event during the Vivatech technology conference in the French capital.
Quoted by Bloomberg, Villeroy elaborated that it’s not sufficient to regulate one legal entity in one jurisdiction. He gave an example with U.S. crypto companies that have different legal entities operating in various jurisdictions which, in his view, creates the need for international collaboration.
While emphasizing that the European Union is ahead in terms of crypto regula
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