Blockchain technologies and cryptocurrencies keep gaining followers in a new course of action that is notably refreshing for the markets. One of the most notable “embracers” was the French Minister of Finance, Bruno Lemaire, who declared himself to be passionate about cryptocurrencies:
One of the key points of this statement is that it seems to imply that the cause of his previous scepticism was a lack of knowledge in the matter. The need to take a pedagogical approach to cryptocurrencies involves a need to “teach” others not only the advantages but also the specific characteristics of cryptocurrencies.
The European Union plays an important role in the markets as the continent represents a large part of the world’s gross domestic product. In the same way, the regulatory decisions made by the EU also influence other countries in the world.
This enthusiastic stance is all the more interesting considering that Mr. LeMair and his fellow parliamentarians recently called on the G20 to take action to prevent the risks associated with the accelerated growth of cryptocurrencies.
The G20 summit raised a lot of expectations for the markets. Some expected a bearish streak as a result of the intentions of some politicians to heavily regulate cryptocurrencies. However, the gentler policy taken at the meeting was quite stimulating.
Mr. LeMaire mentioned that it is essential to take a more serious approach to the issue of ICOs to know how to catalog each type of investment correctly. This also allows consumers to protect themselves without having to overly regulate markets. According to Bitcoin.fr Mr. LeMaire’s opinion of Initial Coin Offerings is quite innovative:
“For Bruno Le Maire it is necessary to professionalize the ICOs and their evaluation, whether by independent rating agencies, the AMF label, or other methods, in order to promote the adoption of the general public in a sustainable way and secure.”
Mr. LeMaire’s position could help boost the adoption of cryptos in the country. Mr. LeMaire is determined to make France a leading country in terms of blockchain and cryptos adoption:
“The next deadlines, in terms of the legislative calendar are July and September with the PACTE law and the PLF 2019 [Finance Bill 2019]. The Minister of Economy and Finance wishes to discuss a maximum of topics to ensure that we take advantage of the momentum in order to remove the most obstacles to the development of the French “crypto” ecosystem (so realistic and pragmatic of course, and in consultation with “traditional” actors).”
This would make France another crypto-friendly European country, possibly driving the development of industries related to the development of blockchain technologies. Something perfectly possible if more people in France adopt the same determination Mr. LeMaire has to make France a better crypto-country.
“You have my total and determined commitment to make things different.”
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