Crypto is on track to become one of the most prolific industries in France. The new Minister of Digital, Jean-Noël Barrot, plans to seize this opportunity.
The golden age for crypto coming soon?
France is slowly starting to lead the way in cryptocurrencies. With more and more companies registered with the AMF and just as many innovative projects, the country of human rights cannot be missed compared to other European states. Major industry players, such as the CEO of Binance, believe that France can become a leader in web3 innovations. An ambition that the new Minister of Digital wants to give substance to.
Jean-Noël Barrot was invited to open the festivities at the Crypto Finance Forum on July 18 in Paris. Indeed, many companies were waiting for his opinion on cryptocurrencies. They were quickly reassured.
During an intervention for BFM Crypto, the founder of The Great Whale Raphaël Bloch gave an update on the minister’s speech. For him, the politician has not announced anything new. Still, he wants to continue the momentum of his predecessor and, above all, capitalize on the success of the blockchain.
Jean-Noël Barrot made no big announcement; however, he wants to be a part of what the government and his predecessor, Cédric O, have been doing, but accelerate, as we see the crypto sector gaining more and more weight. The minister also recalled Emmanuel Macron’s speech this morning, who said that web3 is an industry we have to bet on.
Excerpt from Raphaël Bloch’s speech for BFM Crypto
France is beginning to realize the size of the industry
Jean-Noël Barrot’s speech makes the industry sigh with relief. Still, much remains to be done and the government wants to get companies up and running. Anyway, the Minister of Digital made no secret of his enthusiasm, referring to the many possibilities that crypto offers. To give some hope to the many actors of the area.
As for the general French public, they may be taking the price of crypto very quickly. Projects are multiplying in the territory and it is now possible to pay for meals or clothes with digital currency. Likewise, thanks to projects such as that of the company Lugh, France wants to steal the spotlight from the other countries of the European Union.
Finally, international companies continue to see the country as a land of opportunity, if only to expand globally. Major players like Coinbase have expressed a desire to register with the authorities.
However, the future of the industry remains unstable until regulation is introduced. Some companies may need to update themselves with new laws as they are constantly changing. The crypto could therefore experience a new float moment in the coming year. As for the education of the population, which is essential for mass adoption, has not yet been mentioned by the government.
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