Bank of France wants EU crypto regulation under Paris-based ESMA

The Bank of France is pushing for stricter European Union cryptocurrency regulation, with Governor François Villeroy de Galhau advocating for the European Securities and Markets Authority (ESMA) to oversee digital asset oversight from its Paris headquarters. This regulatory shift could significantly impact the European crypto market, including Bitcoin, Ethereum, and emerging DeFi protocols.

The French central bank's proposal specifically targets strengthening the Markets in Crypto-Assets (MiCA) regulation, particularly around stablecoin issuance requirements. This move signals Europe's growing focus on comprehensive cryptocurrency regulation as digital assets gain mainstream adoption. The enhanced oversight framework would centralize crypto supervision under ESMA, potentially creating more uniform regulatory standards across EU member states.

For investors and blockchain companies operating in Europe, these proposed changes could reshape the cryptocurrency landscape, affecting everything from stablecoin projects to decentralized finance (DeFi) platforms. The Bank of France's initiative reflects broader institutional concerns about digital asset stability and consumer protection. As European regulators continue developing crypto frameworks, market participants should monitor these regulatory developments closely, as they may influence trading volumes, compliance costs, and institutional cryptocurrency adoption across the eurozone.