The French Central Bank has called for stronger regulations under Europe's crypto asset regulation law MiCA (Markets in Crypto-Assets) for stablecoin payments. According to Cointelegraph, French Central Bank Deputy Governor Denis Beau emphasized in a speech that "the EU should limit the use of stablecoins for payments, especially those pegged to non-euro currencies," and that "MiCA only partially addresses the risks of industry changes that could arise if stablecoins issued by non-European entities are widely adopted." Consequently, French lawmakers are reportedly pushing for a separate reporting obligation for self-custodial cryptocurrencies.
