France to Push EU Member States to Adopt Its Cryptocurrency Regulations

[CryptoGirl7]

France is reportedly going to try to convince other European Union member states to adopt cryptocurrency regulations similar to its own, Reuters reported on April 15.

Bruno Le Maire, French Minister of the Economy and Finance, reportedly stated that France will encourage other EU countries to adopt cryptocurrency regulations similar to those France approved last week. The news rules reportedly aim to attract cryptocurrency issuers and traders to France by providing them some official recognition, while taxing their profits in return.

Per the newly adopted regulation, cryptocurrency operators will have to apply for a certification that would purportedly enable authorities to verify who stands behind a new coin’s issuance or a trading platform, also supervising businesses’ plans and Anti-Money Laundering (AML) safeguards.

Read more here

[Endikadija]

France is reportedly going to try to convince other European Union member states to adopt cryptocurrency regulations similar to its own, Reuters reported on April 15.

Bruno Le Maire, French Minister of the Economy and Finance, reportedly stated that France will encourage other EU countries to adopt cryptocurrency regulations similar to those France approved last week. The news rules reportedly aim to attract cryptocurrency issuers and traders to France by providing them some official recognition, while taxing their profits in return.

Per the newly adopted regulation, cryptocurrency operators will have to apply for a certification that would purportedly enable authorities to verify who stands behind a new coin’s issuance or a trading platform, also supervising businesses’ plans and Anti-Money Laundering (AML) safeguards.

Read more here

That's understandable if the new ico must be verified by the government to avoid the possibility of scammers was taking advantage from crypto. I would not be surprised to see there will be a pressure to the ico issuers.

[Adriano2010]

Can be good or bad, let say on my country they put a tax on crypto, let say i make profit some months and lose on another months, if they tax me for month i made profit and need to pay tax and not count the months i lose then is not ok at all, also they not give me any support if i mine coins and get coins by mining and pay electricity and also pay tax for my coins mined as a profit. I hope they only tax the profit, but if not i will like to sell my coins somehow p2p without involve any centralized exchanges that ask kyc.

[livingfree]

For me this is all over positive, they want to encourage other EU countries to adopt cryptocurrency regulations because they have to. They just can't rely to it without any standards and rules to make.

Though there's negative impact to this but I'm looking and getting the positive side of it. Yes, crypto's are meant to be not regulated but that's how it goes when the gov't sees there's something that they can take with it.

[sockpuppet1911]

That's understandable if the new ico must be verified by the government to avoid the possibility of scammers was taking advantage from crypto. I would not be surprised to see there will be a pressure to the ico issuers.

Not only for that. One would think that they also want to keep close taps on the potential money makers. I mean who in eu wouldn't want these projects inside eu, rather then in other trade alliances.

[beerlover]

This is another good way to go, now France is typically recognizing cryptocurrency even if they have to regulate it and if they can succeed in pushing it to EU too, and they buy into the idea, then we should expect a very big boom in the crypto industry.
This fundamentals are the thing we need to rely on to see the future that is still present in the cryptocurrency, so we better start bracing up for the future because we will still have so many factors like this that will make the cryptocurrency investment more interesting. Once EU can adopt it, then I believe other continents will follow through.

[naska21]

You know, people like to know where they stand. However there is not yet any certainty about how this process of achievement of crypto's legal certainty among EU will evolve in the nearest future. While France sets  a great store on the importance of that, Italy for example remains cautious, regarding how this topic should be addressed within following G20 summit. From where I sit... it was a lack of agreement among EU partners that caused the EURO zone structural problems  to go unresolved  and may continue to be in the same state in regards to cryptocurrency.

[fasdorcas]

Many governments of the world are beginning to see that crypto might be their saving grace in the future when they start to experience the recession and if they don't have power over Crypto,  they will be handicap by then because the real men with wealth would be those that have a lot of Crypto in their possession before the inflation occur making the fiat of that country worthless, this is why they are trying everything possible to set rules to favor them so that they will still be in control even after the inflation have occurred.