Lawmakers call on French banks to create their own digital currency

Deputies of the French National Assembly believe that the country's commercial banks with the participation of the ECB shouldDevelop your own digital currency. Lawmakers expect support for the initiative from the Minister of Finance, reports La Tribune.

To this end, members of Parliament Laura de La Radièreand Pierre Pearce met with Finance Minister Bruno le Mer. 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 need to address the issue of digital currencies, but they also need a boost from the European Central Bank»,- La Radiere added.

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.

«It's not their priority. Creating a stable coin will not require a huge investment, but it will have to leave the existing model, which works well».- said the deputy.

Earlier, the French finance minister proposeddigital currency of the European Union. At the same time, the head of the Bank of France, François Villeroi de Halo, is confident that central banks, and not private companies, should deal with its release.