'We don't have much time left' to regulate crypto, says Bank of France governor
"We in Europe need to move as quickly as possible or risk an erosion of our monetary sovereignty," said Francois Villeroy de Galhau. Bank of France governor Francois Villeroy de Galhau said that Europe should make crypto regulation a priority or risk digital assets challenging its monetary sovereignty.At a Paris Europlace financial conference today, Villeroy said he believed the European Union only had “one or two years” left in which to establish a regulatory framework for cryptocurrencies. To not act, according to the central bank governor, would “risk of an erosion of our monetary....
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California Governor Gavin Newsom has vetoed a bill to regulate crypto in his state. He stressed that “a more flexible approach is needed” to “keep up with rapidly evolving technology and use cases” in the crypto sector.
Bill to Regulate Crypto in California Vetoed by Governor Newsom
The governor of the U.S. state of California, Gavin Newsom, vetoed a number of bills Friday, including Assembly Bill 2269 (AB 2269) which will establish a licensing and regulatory framework for cryptocurrency.
Assembly Bill 2269, titled “Digital financial....
The National Bank of Georgia is taking steps to regulate the crypto market in the Southern Caucasus country, its governor revealed in a recent interview. While companies in the industry are to expect a licensing regime, financial institutions have already been banned from providing crypto-related services. Central Bank of Georgia to Propose Cryptocurrency Regulations Georgia’s monetary authority is planning to introduce rules for operations in the nation’s crypto space. The financial regulator has drafted new legislation to achieve this, the bank’s Governor Koba....
A deputy governor of India’s central bank, the Reserve Bank of India (RBI), likens cryptocurrencies to Ponzi schemes, emphasizing that they cannot be regulated. “It would be futile to regulate cryptocurrencies,” he claims, stating that they should be banned. RBI’s Deputy Governor Sees Crypto Ban as ‘the Most Advisable Choice Open to India’ A deputy governor of the Reserve Bank of India (RBI), T. Rabi Sankar, shared his view on cryptocurrency and what Indian crypto policy should be during his keynote address at the Indian Banks Association 17th....
According to information provided last week to the Russian newspaper Izvestia, the Russian Central Bank will meet with representatives of the financial community to establish a position on Bitcoin and cryptocurrencies in general. A source close to the Bank of Russia told Izvestia that the governor might be open to cryptocurrency and that the central bank may allow, and regulate, some Bitcoin activities, specifically transfers, payments, and settlements between users. Elvira Nabiullina, governor of the Russian Central Bank, provided clarifications on the position of the central bank on....
Florens Luoga, the governor of the Bank of Tanzania, said the apex bank has kickstarted preparations for a central bank digital currency. He said the bank was doing this to ensure Tanzania is not left behind as other countries adopt digital currencies.
Keeping Abreast With Developments on the Continent
The Bank of Tanzania (BOT) has started preparations for its digital currency to ensure the country is not left behind others in adopting central bank digital currencies (CBDC), a Bloomberg report has said.
The announcement follows reports that Zanzibar — an....