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Central bankers around the world are calling for better regulation of the cryptocurrency sector, following the debacle of the US-Bahamian exchange, FTX. The latest, the Governor of the Banque de France, who believes that the setbacks of FTX will accelerate regulatory measures. The FED, the US Federal Reserve, believes that the cryptocurrency sector should be subject to the same regulations as the traditional financial sector.
It’s revenge for the sheriffs in the cryptocurrency Wild West. With the FTX debacle, banking and stock exchange authorities around the world are stepping up to demand more control over the buying and selling platforms of cryptocurrencies.
In France, this regulation is already very advanced, as explained by Faustine Fleuret, president of the association for the development of digital assets (ADAN): “ You have more than fifty platforms that are already registered, which means that they are supervised by our supervisory authorities. For example, at the moment, following what happened on the markets, all of the players registered in France are consulted by our supervisory authorities to understand what the impacts are. Are customers exposed? What are the possible repercussions, etc. »
France and soon Europe – which is in the process of adopting a similar regulatory framework – are good students. The problem being that some platforms, such as FTX, evade regulation by registering in tax havens, the Bahamas for FTX. Hence the need for international harmonization.
►Read also: Bankruptcy of the FTX exchange: a systemic crisis for cryptocurrencies?
