Bank of France Urges Direct EU Oversight of Crypto Firms (1)

France urged the European Union’s top markets watchdog to start supervising major crypto companies directly after the expansion of major players in the continent.

In a speech Thursday, Bank of France Governor Francois Villeroy de Galhau suggested transferring oversight powers for the sector’s businesses to the European Securities and Markets Authority to guarantee uniform application of standards within the EU.

The Bank of France governor also called for tightening a landmark European framework of digital asset rules that notably allows crypto companies to apply for licenses from individual EU members, which they can use as a “passport” to operate throughout ...