French authorities are advocating for stricter cryptocurrency regulations, focusing on stablecoins issued by non-European entities. According to NS3.AI, a Bank of France official, Denis Beau, has called for tighter limits under the Markets in Crypto-Assets (MiCA) framework, specifically targeting non-euro stablecoin payments. Beau expressed concerns that the current MiCA rules only partially mitigate risks associated with the widespread adoption of these stablecoins.
In addition, France's National Assembly has adopted a provision requiring self-custody reporting for cryptocurrency holdings exceeding a 5,000 euro threshold. However, this measure has not yet completed the legislative process, indicating ongoing discussions and potential adjustments before final implementation. The move reflects France's proactive stance in addressing regulatory challenges posed by the evolving crypto landscape.#France #crypto #regulations #stablecoins #MiCA #BankofFrance #DenisBeau #NationalAssembly #cryptocurrency #selfcustody #legislation