Bank of France Demands Direct EU Control Over Crypto Companies

European crypto regulation faces seismic shift as French central bankers push for Brussels to take the reins.

The Power Grab

France's financial authorities want to bypass national oversight entirely—arguing that only EU-level supervision can properly tame the wild crypto markets. No more playing nice with decentralized rebels.

Centralized Future

Their proposal would put every major crypto firm operating in Europe under direct Brussels microscope. Trading platforms, wallet providers, token issuers—all facing unified EU rulebook. Because apparently 27 different national regulators wasn't complicated enough.

Regulatory Iron Fist

This isn't gentle guidance—it's a full-blown power consolidation. The Bank of France insists fragmented national approaches create dangerous loopholes that crypto firms exploit. Their solution? One-size-fits-all oversight from the continent's financial capital.

Because nothing says 'innovation-friendly' like putting every crypto startup through the same bureaucratic meat grinder that gave us MiFID II paperwork. European decentralization—but only when it comes to their regulatory authority.

Pushback against proposed EU stablecoin rules

However, several groups that represent crypto and payment companies don’t agree with the possible new rules being discussed. On October 6, these groups sent a letter to the European Commission saying that if the EU changes its rules about how stablecoins are issued in multiple places, it could make it harder for these companies to do business.

They said that the current system, which allows global stablecoins to work across countries, is important because these stablecoins make up almost all of the market. Changing the rules could cause Europe to fall behind other parts of the world.

So far, the European Commission hasn’t replied to the letter. This shows there is a clear disagreement between the regulators who want stricter control and the companies who want clearer rules and to stay competitive.

Also Read: Bullish Teams Up with Deutsche Bank for Crypto-Fiat Integration