Facebook’s Cryptocurrency Libra Already Faces Regulatory Battle in Europe

Facebook’s Cryptocurrency Libra Already Faces Regulatory Battle in Europe

Facebook’s new crypto project, Libra, is already facing severe pushback in Europe, just one day after cryptocurrency’s whitepaper was released. Political and financial leaders are calling for tighter regulation of the social media giant given the implications of Libra becoming an independent sovereign currency. In an interview on Europe 1 radio, French Finance Minister Bruno Le Maire warned against branding Libra as an independent and sovereign currency. He insisted that Facebook’s cryptocurrency should not be…

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French Finance Minister Recommends EU Adopt France’s Model of Crypto Regulation

French Finance Minister Recommends EU Adopt France’s Model of Crypto Regulation

On Monday, April 15, French Minister Bruno Le Maire said that France will push for the European Union to regulate cryptocurrencies in line with the regulatory framework on crypto recently brought in, in France. The regulations, which were brought in last week, allow cryptocurrency organizations to run their own operations and have official recognition by the French government but also allow the profit from digital assets to be taxed. On Monday, France’s Financial Markets Authority…

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France Passes Bill to Enable Insurance Providers to Invest in Crypto

France Passes Bill to Enable Insurance Providers to Invest in Crypto

French insurance companies can now invest in crypto and tokens as per a new law passed by the French government. The news was initially reported by the foreign exchange news agency, FXStreet. The new law put into place by the French government is being seen as a major breakthrough in realizing the potential of cryptocurrencies in the insurance industry. The bill was passed in the French parliament on April 11 with a vote count of…

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PwC France Partner: Digital Assets Are for Corporations, Not Central Banks

PwC France Partner: Digital Assets Are for Corporations, Not Central Banks

France’s central bank won’t issue its own digital currency in the near future according to Pauline Adam Kalfon, PwC France blockchain and cryptocurrency partner. Kalfon admits that cryptocurrency has a growing interest and there have been several recommendations to explore the idea further, but says it would be complex to deploy. “France’s central bank may not be the best entity to drive forward such a digital currency project, which would sit within the prerogatives of…

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IBM to Develop a Blockchain Network for France’s National Council of Clerks

IBM to Develop a Blockchain Network for France’s National Council of Clerks

IBM has been involved in a number of projects over the last couple of years implementing blockchain networks for different companies like Walmart and ADNOC. These projects involve implementing blockchain into supply chain operations and food traceability. The company has played an integral role in the development of the industry outside the cryptocurrencies market. Now, the tech giant is furthering that cause by scoring a new deal with France’s Commercial Court Clerks for a blockchain…

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Street Artist Pboy Hides $1,000 in Bitcoin Inside Paris Protests Mural

Street Artist Pboy Hides $1,000 in Bitcoin Inside Paris Protests Mural

As cryptocurrency becomes more popular and more grounded on the financial scene, it is also securing its place in popular culture, including street art. Well known street artist Pascal Boyart (also known as Pboy) has produced a mural painting in Paris, that depicts the protests that have been occurring in France over the last few months. The mural also contains a puzzle with $1,000 worth of Bitcoin hidden within. The protests started on November 17…

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France Dismisses Crypto Tax Amendments in National Assembly Meeting

France Dismisses Crypto Tax Amendments in National Assembly Meeting

On Monday December 17, the National Assembly in France rejected four amendments to various cryptocurrency tax bills. Tensions have been high in France recently, due to riots that have spanned weeks. Police have used tear gas and water cannons on protesters, and violent clashes are continuing to happen between authorities and protesters. The protests began due to a rise in fuel tax, but has since expanded to include many other issues that affect finance, education…

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French MPs Want Government to Invest 500 Million Euros in Blockchain

French MPs Want Government to Invest 500 Million Euros in Blockchain

Blockchain technology is set to become the catalyst in the next technological mini-revolution. Even as cryptocurrencies saw a steady decline of their prices throughout 2018, blockchain technology has been getting a lot of attention in the tech industry. Only after the hype of crypto currencies have died down that the tech pundits and industry giants like IBM, Amazon, Walmart, Unilever, and Samsung are realizing the powers of the underlying technology of all cryptocurrencies. For-profit organizations…

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France’s Central Bank Confirms It Doesn’t Support Bitcoin Vouchers in Tobacco Shops

France’s Central Bank Confirms It Doesn’t Support Bitcoin Vouchers in Tobacco Shops

On Wednesday November 21, Fédération des Buralistes, France’s tobacco federation reported that they received permission to sell Bitcoin in tobacco stores from January 2019. This was made possible because the tobacco federation teamed up with KeplerK, a French cryptocurrency wallet. It will mean that 4000 tobacco shops will be able to sell Bitcoin vouchers with the value of 50, 100, or 250 euros. It was a French radio network that first reported the issue, the…

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France Advances towards Less Crypto Taxes with New Amended Bill

France Advances towards Less Crypto Taxes with New Amended Bill

On Wednesday November 7 the French National Assembly’s Finance Committee amended the bill of finance to “clarify and simplify the tax regime applicable to crypto-assets.” The amendments will come into play from January 1, 2019. Key Points: A 30% one-off flat rate fee will be applied to profits from the sale of crypto assets. This would apply to any crypto assets that are converted into “lawful” currency, or assets “used as a means of payment…

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