The European Union has introduced legislation on crypto asset markets (MiCA), with the aim of providing comprehensive regulation of the crypto sector.
However, as cryptocurrency conglomerates continue to expand their presence globally, there is a growing realization that regulation of these entities requires international cooperation and an updated version of MiCA.
Bank of France governor wants MiCA update for new crypto regulation
At a recent technology forum held in Paris, Bank of France Governor Francois Villeroy de Galhau stressed the importance of international cooperation in the regulation of crypto conglomerates.
Villeroy expressed his belief that it is not enough to regulate individual legal entities within a jurisdiction and stressed the need for cross-border cooperation.
Drawing attention to the existence of US crypto companies with multiple legal entities operating in different jurisdictions, Villeroy stressed that international collaboration is critical to effectivel
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