Bank of France Warns of Bitcoin's Volatility
French central bankers have joined their Chinese counterparts in issuing a warning against the risks of bitcoin trading. On Thursday, France's central bank warned that the price of bitcoin is inherently volatile, and that some users may find it difficult to convert their bitcoins into real money. Reuters reported that the warning also addressed anonymity: the bank highlighted the fact that bitcoin's anonymous and unregulated nature made it suitable for money laundering and even sponsoring terrorism. Risky investment? The bank stressed that bitcoin isn't a credible investment vehicle yet,....
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The central bank of France - aptly named Bank of France - has issued a warning to the general public about the risks of getting involved with digital currency bitcoin. The bank has said that "even if bitcoin is not currently a credible investment vehicle and therefore do not pose a significant risk to financial stability, they represent a financial risk for those who hold them". In other words, you may lose all your money. Thankfully, the Bank of France (and the French government) haven't imposed any sort of regulation or bans (we're looking at you, China). It seems as if this is more of....
Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms.
France and Switzerland Explore Direct Transfer of Euro, Swiss Franc Wholesale Digital Currencies
An experiment carried out by the monetary authorities of France, Switzerland and the Bank for International Settlements (BIS) has indicated that central bank digital currencies (CBDCs) can be....
The governor of France’s central bank, François Villeroy de Galhau, has urged EU regulators to “avoid adopting diverging or contradictory regulations, or regulating too late.” He warned that “To do so would be to create an uneven playing field, risking arbitrage and cherry picking.” French Central Bank Governor Warns About Adopting ‘Unduly Complex’ Crypto Regulations Banque de France Governor François Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central....
The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto Company Conduct Successful CBDC Test As part of a program launched in March 2020, central bank digital currency (CBDC) has been used to simulate the settlement of listed securities, Bank of France announced in a press release published Monday. On June 18, the regulator simulated the issuance of CBDC....
Despite the fact that the Bank of France has already issued a warning on bitcoin and digital currency as a whole, it seems like users in the country haven't encountered much of a challenge in using their bits. But exchanges, on the other hand, are another story altogether. Regulators at the French Prudential Supervisory Authority (ACPR) at the Banque De France (Bank of France) have issued a statement outlining that bitcoin exchanges operating in France must be registered and licensed to do so. The Authority has established that any business that serves as an intermediary by facilitating....