France’s Finance Minister Roland Lescure has called for stronger regulation of euro-backed stablecoins and encouraged EU banks to explore tokenized deposits. His remarks indicate a potential shift in regulatory policy, including support for the Qivalis consortium’s euro-pegged stablecoin, scheduled for late 2026. Lescure criticized the current state of euro stablecoins as “unsatisfactory.” Previous officials had expressed concerns about threats to monetary sovereignty. Analysts view this new stance as a more pragmatic approach to stablecoin regulation in Europe.

Odaily Planet Daily reports that French Finance Minister Roland Lescure stated that Europe needs more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits; these remarks are seen as signaling a potential shift in the stance of the French government and central bank.

Lescure publicly supports Qivalis, a consortium of 12 European banks including BBVA, ING, UniCredit, and BNP Paribas, planning to launch a euro-pegged stablecoin in the second half of 2026 to counter the dominance of the US dollar in digital payments.

He noted that the current scale of euro stablecoins is far below that of dollar stablecoins, "which is not satisfactory," and emphasized that promoting such development is "exactly what we need."

In contrast, former Finance Minister Bruno Le Maire previously took a firm stance against privately issued stablecoins, viewing them as a threat to monetary sovereignty; recently, Banque de France Governor Fran?ois Villeroy de Galhau also warned that stablecoins and tokenized currencies could pose a risk of "monetary privatization."

Analysis suggests that France's latest statement may signal a more pragmatic approach by Europe toward stablecoins and digital currency policies, seeking a balance between regulation and innovation. (CoinDesk)