France urges EU to increase certainty in cryptocurrency regulation following its example
France intends to urge the EU to adopt the same principles for regulating cryptocurrencies that were approved by its legislators last week, writes Reuters, citing a statement from the country’s finance minister Bruno Le Maire..
Last week, the French parliament approved new regulations for the financial sector aimed at attracting and recognizing cryptocurrency traders while increasing tax revenues to the country’s budget, and also allowed the inclusion digital assets in insurance products.
“I will propose to my European partners to create a unified regulatory framework for cryptocurrency assets, based on the experience of France,” Le Maire said at an event in Paris dedicated to blockchain technology. “Our model is correct.”.
The new law will allow companies in France wishing to issue new cryptocurrencies or exchange existing ones, including traders and custodial services, to undergo the necessary certification. After that, they will work in the legal field and pay taxes. The ultimate goal of the initiative is to create a market through which those who wish can raise funding through the distribution of digital tokens.
According to Trustnodes, at the same event, Le Maire announced the creation of a € 4.5 billion fund that will be used for investments in innovative technologies, including blockchain, over the next 5 years. The minister said that today in France, there are “more than 200 innovative blockchain projects.” France is striving to become a world leader in technology, he said. distributed ledger and compete with the “tech giants of China and America”.
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