Lawmakers call on French banks to create digital currency

by in Cryptocurrency News

France national currency

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

To this end, 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.

“It is commercial banks that must deal with the issue of digital currencies, but they also need momentum from the ECB,” La Raudière added.

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She noted that French entrepreneurs are worried about the promotion of foreign initiatives in the field of stablecoins.

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, ”the deputy said.