Blockchain Is A Priority For The French Govt, Says Finance Minister Bruno Le Maire

Blockchain, News, Regulation | April 16, 2019 By:

French Finance Minister Bruno Le Maire said that the development of a blockchain ecosystem is a priority for the French government.

In an interview with Capital, Le Maire said that blockchain is a potential technology that can contribute to the modernization of the country’s economy.

“That’s why the government has an ambitious blockchain strategy,” Le Maire said. “We have all the assets to make France a country at the tip of the blockchain. We must value them. A sign of the vitality of our ecosystem: we have identified more than 200 innovative blockchain projects developed in France.”

According to the French Finance Minister, France will be investing 4.5 billion euros in breakthrough innovations, including blockchain technologies, over the next five years.

“The goal is to take a technological lead to be able to fight against the Chinese and American technological giants,” Le Maire said. “Blockchain technologies are evolving very fast. To avoid wasting time, funding has already been proposed in the form of calls for projects. We have therefore launched the “Innovation – Growth Competition” this spring, to support projects, particularly in the context of blockchain technology.”

Regarding cryptocurrency, Le Maire said that France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one France brought in last week at a national level, which includes rules aimed at tempting crypto issuers and traders to set up in the country by giving them some official recognition, while ensuring the country can tax their profits.

“I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience,” Le Maire said. “Our model is the right one.”