French Regulator: Too Early to Classify Digital Coins Properly

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Digital currencies supported by the central bank have been on the agenda since 2018. Many other countries accompanied the work started by China by starting to develop their own digital money. It is known that some countries have already passed the testing phase and France is one of them.

French officials, who made a surprise statement in the past few weeks and started the tests for Digital Euro, have now shared an update on this issue. In a statement made by the financial regulator of France, AMF, it is emphasized that it is too early to classify digital currencies and cryptocurrencies according to regulation.

Crypto Coins Classification Statement From France
Within France, there is a lack of regulation like all over the world. The lack of a clear regulation to cover cryptocurrencies also facilitates the business of fraudsters and increases the doubts of institutional investors who want to enter the sector.

Defining the digital asset as an asset that is connected to cryptography and is in a distributed wallet, the French regulator also stated that it is important to maintain the difference between digital money and electronic money. In fact, this shows that France does not favor digital currencies and sees the Digital Euro it will launch as electronic money.

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