Lawmakers Call On French Banks To Create Their Own Digital Currency

MPs of the French National Assembly believe that the country’s commercial banks should start developing their own digital currency with the participation of the ECB. Lawmakers expect support for the initiative from the Minister of Finance, reports La Tribune.

Members of Parliament Laure de La Raudière and Pierre Person met with the head of the Ministry of Finance Bruno le Maire. They hope that the minister will push French banks to experiment with the digital euro, which, in their opinion, is necessary for the development of the blockchain ecosystem in the country.

The newspaper notes that French entrepreneurs are worried about the promotion of foreign initiatives in the field of stable coins.

Pierre Person said that according to their impressions, local banks do not want to invest in such projects. Financial institutions consider them as additional costs.

“This is not their priority. Creating a stable coin will not require huge investments, but you will have to get out of the existing model, which works well,” he said.

Earlier, the French finance minister proposed creating a digital currency of the European Union. At the same time, Head of the Bank of France, François Villeroy de Galhau, is confident that central banks, and not private companies, should deal with its release.


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