French Mp: The Country Should Welcome Crypto Innovation

Pierre Person, a former member of the French National Assembly for the past five years, states that people are interested in cryptocurrencies and that “politics can no longer lose sight of this.”

While bitcoin and the rest of the crypto market are at their lows, Person believes they have become more mainstream and hopes people will be more open about them.

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In an interview with Euronews Next during the International Financial Forum in Paris, President Macron’s former MP and ally are optimistic about the future of cryptocurrencies in his country. He decreed:

“I think our decision makers see crypto differently. We are now seeing more and more people becoming interested in crypto and therefore politics can no longer be overlooked.”

During his time in Parliament, Person was responsible for making several amendments to the cryptocurrency document, among which was a flat tax rate of 30% on digital assets. Another amendment was to allow French companies to pay their employees in cryptocurrencies.

Headwind

The person believes that the French Assembly’s image of cryptocurrency is vital and wants it to be “open and more welcoming.” However, he acknowledges that the traditional banking sector is more skeptical. He said:

“It is true that there is always a headwind. There are traditional finance that don’t really understand the problems, that sometimes have trouble adjusting, and that, logically, don’t want to be pushed around.”

He also added:

“But this does not mean that we should close the door and put up a gate, because we see how it will end. We have seen what has happened with streaming, with a lot of Web 2.0 events, and we know that innovation and competition is a good thing to grow in a country.”

A person says there is a conflict between regulators trying to create rules for cryptocurrencies based on what already exists and that the innovative nature of cryptocurrencies requires something different while still protecting investors.