Europe Challenged by Private Crypto Assets

Europe needs to address the challenges imposed by private sector global digital assets, warned the Governor of the Bank of France, Coin Telegraph reported.

“We in Europe face urgent and strategic choices on payments that will have implications for our financial sovereignty for decades to come.”

“Our European ecosystem has become critically dependent on non-European players, with little control over business continuity, technical and commercial decision-making, as well as data protection, usage and storage.”

This comes as major European governments are supporting the European Commission’s plan to prepare legislation regulating crypto assets.