On Monday 15 April, French Finance Minister Bruno Le Maire made the case for a European framework for regulating crypto-assets, inspired by the French model, at the "Paris Blockchain Conference" in Bercy.
In front of several blockchain technology players, Bruno Le Maire spoke of his wish to make France "a reference model" at European and international level.
From 2017, France was "the first European nation" to define the concept of ‘blockchain,’ it established a fiscal and accounting framework for cryptocurrency fundraising and last week it adopted the PACTE Law which creates a "unique framework in the world" to guarantee the security of token issues and crypto-asset transactions, Mr Le Maire said.
The system will allow digital asset issuers and intermediaries to apply for optional authorisation, allowing the French Financial Markets Authority to establish a "white list" to register them.
For Bruno Le Maire, this national framework must go hand in hand with a European framework. "I will therefore suggest to my European counterparts that a single regulatory framework for crypto-assets based on the French experience is set up," he announced. The Minister also said he will continue to encourage work on this subject at the G20 level (see EUROPE 12065/4).
The European Commission is already reviewing European legislation to ensure that it is adapted to cover crypto-asset use (see EUROPE 12229/33) and has launched a feasibility study on a possible common regulatory approach at EU level. (Original version in French by Marion Fontana)