cryptonews.net
Changpeng Zhao spoke at the opening of Binance Blockchain Week Paris 2022, which kicked off on September 14. He stated that the crypto market is ready to "explode" in the country in the next five years, thanks to the crypto adoption and the initiatives that the French government is taking. Some of the initiatives he highlights include France's efforts to lower taxes and ease up its employment laws.
He also commented on the upcoming EU cryptocurrency regulations that France will adopt. Changpeng Zhao said the EU's Market's in Digital Assets (MiCA) laws are "fantastic" but a bit strict, especially with regard to stablecoins. However, he still expects laws that will create a unified cryptocurrency regulatory regime for the 27 EU member states to soon become the global standard.
To help eliminate the pitfalls, government officials announced at the meeting that France will launch a three-year regulatory sandbox for the crypto industry from March 2023. This should allow innovation in the French crypto industry to flourish and give crypto startups new opportunities.
Image: Binance