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Bank Of France Is Interested In Stablecoins, Governor Claims

15 May 2019 12:02, UTC
Bank Of France Is Interested In Stablecoins, Governor Claims

The Bank of France is showing interest in the stablecoins, as it was stressed by the governor Francois Villeroy de Galhau in a Bloomberg report. He said that the bank was “observing with great interest” the development of technology that allows network participants to exchange stablecoins for securities, goods and services. Nevertheless, the governor noted that stable coins "are quite different from speculative assets like bitcoins, and more promising."

Francois Villeroy de Galhau has always been a Bitcoin critic. Earlier in Beijing, he made the following statement:


“We need to be clear: Bitcoin is in no way a currency or even a cryptocurrency. It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The Bank of France reminds those investing in bitcoin that they do so entirely at their own risk.”

His position is supported by Mario DRAGHI, the President of the European Central Bank (ECB). He also recently stated that cryptocurrency is not a currency, but rather a risky asset for which no one bears responsibility.

Image courtesy of 2Bitcoins



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