France Tightens Crypto Oversight with Stricter Stablecoin Rules

The European Union's Markets in Crypto Assets (MiCA) framework is under review by French regulators, who have expressed concerns about its effectiveness in addressing the risks associated with stablecoins.

Denis Beau, First Deputy Governor of the Bank of France, has stated that MiCA 'only partially addresses the risks' tied to the fast-evolving crypto sector. The bank is pushing for stronger limits on non-euro stablecoin payments and stricter rules on foreign-issued tokens.