Bank of France: stablecoins could impact EU financial sovereignty ‘for decades’
Banque de France Governor François Villeroy de Galhau wanted about the threat of "Big Tech" stablecoins. The governor of the Bank of France has warned that Europe cannot afford to lose momentum in tackling the challenges posed by private sector global digital assets. His warning came as five EU governments — Germany, France, Italy, Spain and the Netherlands — all backed the European Commission’s intent to draft regulation for asset-backed crypto assets, notably stablecoins. In their draft joint statement, the five governments reportedly pledged to prevent global stablecoins from operating in the EU before all legal, regulatory and oversight matters have been addressed.
Coin Telegraph - 11th Sep 11:09