Macron supported the bill on the regulation of cryptocurrencies in the EU

French President Emmanuel Macron “does not believe in a self-regulating financial sector”, and therefore supports a bill to regulate cryptocurrencies MiCA. The politician stated this in an interview The Big Whale.

“I don’t believe in a self-regulating financial sector. It will not be sustainable or democratic. It is up to the public authorities to determine the right conditions that will allow the sector to develop confidently, encouraging innovation,” he said.

In March 2022, the Committee on Economic and Monetary Affairs of the European Parliament accepted MiCA by majority vote. Further discussion of the bill will take place at the level of the EU Council and the European Commission.

The French President also supported the idea of creating a digital euro. In his opinion, the implementation of the MiCA law will make it possible to achieve greater progress in this matter.

Macron called the Web 3.0 industry “an opportunity not to be missed.” According to him, France and Europe have a chance to become the vanguard of the “new generation of the Internet.”

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At the same time, the politician said that the high pace of technology development creates a digital divide between “the owners of digital technologies, AI, quantum computing, blockchain” and those who are excluded from this system.

Macron has long advocated the active use of blockchain in France. In 2019, he stated that the introduction of distributed registry technology in the supply chain of agro-industrial products will allow the country to compete with Russia.

Recall that in April 2022, crypto companies called on the European Union refuse to tighten regulation of the industry.