openness and its limits The Minister of Economy and Finance, Bruno Le Maire, has detailed what could be seen as an outline of the French authorities’ roadmap for crypto assets. If France did not want to miss the revolution web 3And the It remains stubborn on some points aimed at protecting the sovereignty of its currency and that of Europe.
Crypto regulation: extremism is like enemies
in an interview Awarded to BFM Crypto, Bruno Le Maire has the overall outlook and vision he possesses Digital currencies. The Minister of Economy and Finance spread, unsurprisingly, more than Industry regulation issuewhich places it parallel to this ambition to make the country “the European hub of the crypto-asset ecosystem.”
To achieve this goal, Bruno le Maire invokes two problems to avoid, which correspond to two opposites. One is related to concerns about innovation, competition and decentralization. and the other about:
“The idolatry of a world without a state, without a central bank, without borders, and ultimately without money.”
Thus these observations are at odds with the dreams of decentralization by extremists, who in any form of centralization, partial or total, see that evil must be overcome at all costs.
From France to Europe: An attractive framework for Bitcoin
In his interview, Bruno Le Maire recalls what he considers the regulatory victories for France, in the field of crypto-assets: the consultation for the drafting of the PACTE law, and Create a PSAN statewhich will be “the most successful regulatory framework in Europe”.
And to support his statements about these great achievements made by France in the industry, the Minister of Economy did not hesitate to mention names binance and Crypto.com, two giants owning They put their bags in ParisAttracted by the country’s “multi-talent” and sound legislation.
Bruno le Maire also advocates for the government’s record in the crypto-asset space. confirms the fact that MiCa regulationwhich is expected to come into force in 2024, It would take inspiration from the French regulatory frameworkwhich is its “natural extension”.
The Minister of Economy asserts that crypto companies that have obtained PSAN Sesame, should more easily obtain future European approval.
Green Active Crypto: Ethereum, good student
Bruno Le Maire also presented the government’s strategy regarding the environmental aspect of crypto assets. This approach will be based on a “rigorous science basis,” with a report on the environmental impact of crypto assets being prepared with “relevant stakeholders, in inclusive meetings.”
The Minister of Economy was even Beautiful words to mergewhich is expected to reduce the carbon footprint ofEthereum (ETH).
Strong coherent and/or opportunistic signal, the French state also through EDF’s Web 3 More than 150 nodes running on Ethereum after Ethereum merge.
Taxes and the unquestionable era of the euro
On questions about taxes and fees on bitcoin and crypto assets, Bruno Le Maire is currently ruling out the “pure and simple compatibility with stock” scenario. 2023 will be the year of deepening ideas with the relevant actors, Whether it is necessary or not Adapting to current tax legislation.
Although the Minister of Economy’s words about crypto assets are moderate, with a clear desire to show that France is engaged in this race to innovate in the world of Web 3, the limits of this openness are clear. The euro remains the only reference currency.
cryptocurrency tax payments, As in Colorado“not on the agenda”, adding the following:
“Bitcoin is not intended to become a large-scale payment method in the European Union”
These remarks by Bruno Le Maire still raise questions about the future of the cryptocurrency industry in France, if the authorities will ban some cryptocurrencies, to protect the euro. The The Bank of France does not seem to view these cryptocurrencies favorably. Which compete and can overshadow paper money.
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