French Finance Minister is open to Cryptocurrencies, gives “total and determined support” for it 9416
Team BCFocus
May 17, 2018 at 3:55 PM

Bruno Le Maire, the Finance Minister of France revealed his deep interest in cryptocurrency and gave his “total and determined support” for it. Le Maire stated, “I was new a year ago, but now I’m passionate. It took me a year. Let us educate our fellow citizens to make France the first place for blockchain and crypto-assets innovation in Europe.” He stated this during a meeting with Alex Stachtchenko. Alex is the co-founder of Blockchain Partner.

The meeting had discussions over the main hurdles in cryptocurrency domain. The first one is that the banks don’t give accounts to blockchain companies easily.

Stachtchenko stated, “On this subject, between the State on one side and the project promoters on the other – I quote – ‘the interests are aligned.’ The first because it needs to keep the creators of value and the second because it is better to take a known and strong French bank than to risk its capital on foreign accounts or foreign risky banks.

The minister thus undertakes to support our cause with the French Central Bank in particular.”

Furthermore, the next topic of their discussion was taxation. It was suggested to remove the crypto-to crypto exchanges from taxation.

As of now the French Finance Minister hasn’t taken any decision on it. He “wishes to deepen discussions on tax competitiveness issues in particular, through regular exchanges with the ecosystem, to develop effective relevant measures.”

The next area to address was ICO or Initial Coin Offering.  He stated that 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 and secure way.”

The Finance Minister of France is excited about the cryptocurrency. He wants to get hold of every opportunity quickly. “He 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.”

Bruno Le Maire, the French Minister of Finance stated, “You have with me a total and determined support to change things.”


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