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France’s Villeroy Urges Obligatory Licensing for Crypto Firms

Francois Villeroy de Galhau

Francois Villeroy de Galhau

Photographer: Jason Alden/Bloomberg

Bank of France Governor Francois Villeroy de Galhau urged tougher regulatory requirements for crypto firms, in what could be a setback for an industry seeking to secure a stronger foothold in Europe. 

Villeroy said that recent volatility in the sector means France shouldn’t wait for European rules to come into effect before making it obligatory for Digital Asset Service Providers, or DASP, to obtain licensing from authorities.