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Home»Cryptocurrency»Bank of France Official Speaks About DeFi
Cryptocurrency

Bank of France Official Speaks About DeFi

cryptossorBy cryptossorNovember 29, 2021No Comments1 Min Read
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Denis Beau, senior official of the French central bank, talked about DeFi and CBDCs. Beau said current regulatory frameworks are constrained by DeFi’s capabilities.

Contact us to be informed about the last minute developments. Twitter and Telegram you can follow our channel.

Bank of International Settlements (BIS) released a speech on Sunday, November 19th. In the speech, Beau, the senior official of the French central bank, focused on CBDCs and the institution’s pilot program. Beau also talked about crypto-asset regulations in Europe and said that other regulatory changes, which he says are very important, will also need to be introduced. Saying that he meant DeFi, Beau used the following statements:

“I am specifically talking about the control of decentralized finance, where the usual regulatory frameworks are constrained by the fact that issuers and service providers are not easily identified and have no fixed jurisdiction for the services provided, in an environment where protocols are executed automatically without intermediaries. ”

These statements of Beau coincide with the attitude in the USA. SEC Chairman Gensler also made some statements in the past weeks regarding the need to regulate DeFi. Bitcoin supporter SEC member Hester Peirce thinks DeFi will challenge the way it is regulated.

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