French central bank chief calls for ESMA to have direct crypto oversight

François Villeroy de Galhau, the Governor of the Bank of France, has called for the European Securities and Markets Authority (ESMA) to be granted direct supervisory power over cryptocurrencies, Cointelegraph reported. Speaking at the ACPR-AMF Fintech Forum in Paris, Villeroy de Galhau argued that this approach would enhance regulatory consistency and reduce risks associated with the crypto sector. He emphasized that without a unified supervisory body, inconsistent regulations could emerge, particularly as crypto firms are rapidly expanding into Europe.