France is one of the leading economies in the European Union. For this reason, it maintains extensive influence over decisions made at Brussels. Like Russia, it has a global sphere of influence, including its former colonies in Africa and Asia. Paris has also now become a leader in blockchain innovation and cryptocurrency exchange.
French Cryptocurrency Community
More and more, France has been hosting summits and conferences dealing exclusively in cryptocurrency, Bitcoin, and Blockchain, this reports Forbes. Karim Sabba, an organiser of the Paris Blockchain Week Summit, told Forbes that the French public are becoming increasingly inquisitive about cryptocurrency and how it could expand their economic horizons.
In fact, French companies continue to introduce Blockchain technologies, so the west European nation increasingly dominates the innovations in financial technologies throughout the world.
Future of Blockchain in France
In 2019, France adopted a draft law to regulate the cryptocurrency industry. It strengthens the monitoring abilities of France’s Financial Markets Authority. It also provides legislative framework for the digital asset concerns in the country.
Moreover, France urged the EU to adopt similar regulatory measures as the cryptocurrency frenzy continued to abound, reports Bitcoin.com. France’s Finance Minister Bruno le Maire stressed that these measures are integral. He stressed that the French experience of digital asset management could potentially benefit the entire European Union community.
As the world continues to adopt more and more structures to ensure the best performance of cryptocurrency schemes, France could prove a leader in Europe and its sphere of influence. To clarify, much like fellow EU country, Portugal, France with its heavy taxes and financial regulations could earn much income to boost the state coffers by encouraging cryptocurrency trade.