News - MiCA 2.0: French central bank calls for more regulation

By Luc Vesters

MiCA 2.0: French central bank calls for more regulation

Laws and regulations
DeFi

According to the head of the French central bank, Francois Villeroy de Galhau, international cooperation is needed to regulate large crypto companies. Speaking at the Technology Forum in Paris, he said a new version of the MiCA regulation recently adopted by the EU is needed.

It is true that the regulations are bringing drastic changes, especially for service providers, who will have to comply with a host of new rules starting in 2025. But strike, lending, NFTs and, last but not least, the area of decentralized finance (DeFi) have so far been left out of the crypto regulatory framework.

"Decentralized finance is just a new technology. There are players using this technology for financial services, they need to be regulated. Same approach, same risks, same rules," the central bank chief said.

MiCA 2.0, meanwhile, is already in the works. For: in the current version, Parliament directed the Commission to "monitor developments in the market for NFT's." It is quite possible that the EU will next deal with bored apes, ordinals and the like.

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