France Tightens Regulation of Crypto Assets and Stablecoins to Address Growth of Dollar-Linked Stablecoins in Europe
According to Cointelegraph, Denis Beau, First Deputy Governor of the Bank of France, stated at the EUROFI High-Level Seminar that the Bank of France is advocating for the European Union to strengthen payment restrictions under the Markets in Crypto-Assets Regulation (MiCA) on non-euro stablecoins—particularly U.S. dollar–pegged stablecoins. Beau noted that existing regulatory measures may be insufficient to address the risks posed by widespread stablecoin adoption. Meanwhile, on April 7, the French National Assembly passed an anti-fraud bill that would require annual reporting of self-custodied crypto wallets with a value exceeding €5,000; however, the bill has not yet completed the legislative process.
