France’s Financial Regulator Advocates Increased Control of Crypto Companies

The French authorities are increasing their control over companies that provide services for the storage and exchange of digital currencies.

The Ministry of Finance announced last fall a series of amendments to the legislation requiring crypto exchanges to identify each user.

The head of the Bank of France, François Villeroy de Galhau, also believes that control over the work of crypto companies should be as strict as possible. Only those enterprises that have a license and fully meet the required criteria will be able to provide services in the domestic market.

In addition, the Central Bank has called on the government to develop additional measures by which the state can ensure the transparency of the blockchain industry and guarantee the safety of investors.