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Bank of France official: Existing regulatory frameworks ‘constrained’ by DeFi characteristics

A senior official for France’s central bank said earlier this month that regulators in Europe need to more directly supervise decentralized finance (DeFi). In a speech from November 19 that was published Sunday by the Bank of International Settlements, Denis Beau, first deputy governor of the Banque du France, primarily focused on the development of central bank digital currencies (CBDCs) and his institution’s pilot program in this area. France’s central bank is also a participant in the long-term project to …