Bank of France Governor: Stabilizing coins have a place in the financial market

Bank of France Governor: Stabilizing coins have a place in the financial market

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However, French central bank governor Francois Villeroy de Galhau said on Tuesday that he is really optimistic about the future of the digital asset linked to the law. Although he has said in the past, he believes that cryptocurrency is not a currency.

However, the French regulator official said in Paris on Tuesday that he believes that in the existing financial market, the stable currency does have its place.

Affirmative

The French central bank official also hinted that he supports asset certification, and other regulators have said they want to see this happen. Villeroy de Garrau said:

“The French central bank is actively focusing on the private sector’s initiative to develop a stable currency network in which 'stabilized coins' will be used for transactions involving 'pass-certified' securities or goods and services.”

For people working in the cryptocurrency field, such a statement can be described as mixed. On the one hand, it proves that the idea that blockchain and pass-through will become useful tools for financial services companies is correct. But for companies that want to eliminate intermediate institutions and make fundamental changes to global financial markets, it’s hard to simply replace one of the existing technologies with another while retaining the existing structure. It is a good deal.

After praising the stable currency, Villeroy de Garhao continued to attack Bitcoin, saying the cryptocurrency was a "speculative asset." But for Bitcoin supporters, Bitcoin certainly represents an inflation-free currency that can be traded without government intervention.

So, like other central bankers, it's no surprise that Villeroy de Garhao doesn't like Bitcoin. After all, Bitcoin supporters are not interested in these officials.

Original: https://www.financemagnates.com/cryptocurrency/regulation/bank-of-france-has-great-interest-in-stablecoin-initiatives/
Author: David Kimberley
Compile: Libert
Source: Translation: Babbitt Information (http://www.8btc.com/409241)