PANews reported on October 9th that, according to Bloomberg, in a speech Thursday, Bank of France Governor Francois Villeroy de Galhau suggested transferring regulatory authority for cryptocurrency companies to the European Securities and Markets Authority to ensure uniform implementation of standards within the EU. He also called for tightening the European regulatory framework for digital assets. A notable feature of this framework is that it allows cryptocurrency companies to apply for licenses in individual EU member states and use these licenses as a "passport" to conduct business across the 27-nation bloc. Villeroy de Galhau stated that this framework would benefit from stricter regulation of the issuance of the same stablecoin within and outside the EU to reduce arbitrage risks during periods of stress.