Central Banks Have Three Options for Crypto Regulations, Says Official
Denis Beau, the deputy governor of France’s central bank, Banque de France, recently delivered comments regarding the approach of central banks to cryptocurrencies.
On Oct. 16, Beau spoke at the Official Monetary and Financial Institutions Forum conference in London, where he discussed the role of cryptocurrency assets in today’s global financial payment system.
Beau stated that the traditional bank-based ecosystem could face significant changes due to the many technological developments, such as blockchain and distributed ledger technologies, explaining:
“With the emergence of so called crypto-assets […] and so called stablecoins, we may also see new settlement assets develop which may compete against and possibly, according to their promoters, replace commercial and central bank money as settlement assets at the center of our payment systems.”