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ECB’s Villeroy Says Crypto Winter Shouldn’t Slow Regulation

  • Europe is regulatory ‘pioneer’ but others are lagging behind
  • Bank of France experimenting with new payment infrastructures
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The plunging appetite for cryptocurrencies doesn’t mean authorities should drag their feet on regulating them, according to European Central Bank Governing Council member Francois Villeroy de Galhau.

“The so-called ‘crypto-winter’ is no reason for complacency or inaction,” the official said Tuesday in Paris. While Europe “has been a pioneer” in designing its own regulatory framework know as MiCA -- Markets in Crypto Assets -- legislation, “other major jurisdictions are less advanced in a similar process.”