Bank of France Governor: Tougher Regulation for Crypto Companies

Francois Villeroy de Galhau, the governor of the Bank of France, recently said in an interview that tougher regulatory measures should be taken against crypto companies.

Villeroy said that the recent volatility in the crypto industry means that France should not wait for European rules to come into effect and that digital asset service providers must obtain a license from the authorities.

No providers currently have such licenses in France, and about 60 companies, including Binance, have only been granted entry-level licenses.