The head of the Central Bank of France sees the future in stablecoins

The head of the Central Bank of France sees the future in stablecoins

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The chairman of the Bank of France and the representative of the European Central Bank (ECB), François Villeroy de Galo, sees the future in the stablecoins. It is reported by Bloomberg. So, he is confident that for “stable coins” there is a place in the existing financial markets.

“The Bank of France is following with great interest initiatives in the private sector aimed at developing networks in which frameworks will be used in transactions involving tokenized securities or goods and services,” said Galo de.

He also stressed that steblecoins are very different from such “speculative assets”, like Bitcoin. Apparently, de Galo adheres to the position of the head of the ECB, Mario Draghi, who recently said that the bank does not recognize Bitcoin as currency.

Recall that in France in April a law was passed, according to which life insurance companies can invest in cryptocurrency and tokens without restrictions on the amount of investments. Later, the Minister of Finance of the country Bruno Le May said that France will contribute to the promotion of blockchain technologies.

The head of the Central Bank of France sees the future in stablecoins

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