Jean-Noël Barrot, deputy minister in charge of the digital transition and telecommunications, at the press conference of the NFT factory – Coins.fr ©
the digital minister rejoices in the creation of the NFT factory and boast of thegovernment ambition to make France a european hub of the cryptocurrency. Next steps: give a regulatory framework to the Challenge and to NFT.
This is a constant in the government discourse: it highlights its action in favor of the development of the crypto industry in France thanks to the Pacte law of 2017. Jean-Noel BarrotDeputy Minister for the Digital Transition and Telecommunications, repeated the exercise during the inauguration of the NFT Factory.
According to him, this opening represents “an important moment for the world of” NFTfrom web3but also for Paris and the France For Jean-Noël Barrot, it adds to the political impetus given by President Macron in favor of Web3.
France at the “avant-garde” on NFTs
“We have the ambition, with the President of the Republic and with the government, to be at the forefront of this,” declared the minister’s deputy. So it follows the recent pronunciations from the boss of Bercy, Bruno the mayorsecure BFM.
Jean-Noël Barrot goes one step further. “We managed to make France without a doubt the first hub for cryptos “, he judges. This “success” and this ambition, the member of the executive, conditions them to a “close” collaboration with the actors, including the 128 founders of the NFT factory.
It is also necessary, the minister’s deputy continues, to “be ambitious in how we can support them”. And this support covers three main areas namely crypto, DeFi and NFT.
Extending the ‘Successful’ Experiment on Crypto to DeFi and NFTs
By positioning France on these three applications, Jean-Noël Barrot also believes that the country will then be in a good position to develop future applications of Web3 and the blockchain.
But what concrete actions does the government foresee? Without going into details, the Digital Secretary highlights the measures taken around crypto, which could therefore inspire those being applied to DeFi and NFTs.
These are the Pacte Act and MiCA, the European regulation that France worked for during its presidency of the EU. And the government considers that it is these measures that have contributed to France’s attraction to global crypto giants, such as: Binance and Crypto.com.
We want to draw all the lessons from this successful experience for the other sectors that are DeFi and NFTs”, concludes Jean-Noël Barrot.
about the decentralized financethe minister acknowledges “very strong concerns”, but also assets.
NFT: “France also has many advantages”
He is therefore of the opinion that the Challenge in particular can count on the strength of its financial center to develop in France. The stated ambition: to position the country “at the forefront of regulation” and attractiveness.
The NFT finally: “there are concerns, we must not hide them”, the government representative noted. Among these, their ecological footprint or their usefulness, “complex to understand”.
Nevertheless, on non-fungible tokens, France “also has many advantages”, assures Jean-Noël Barrot, envisioning a place “as a European and undoubtedly global hub” in the NFT market.
Three main applications of these active ingredients are developing and for which France has a world-renowned industry: culturethe luxury and the gaming. The private sector is at work here.
It remains up to us, and it is the government’s responsibility, to support this movement,” the minister said.
In particular, this will include: support through “public money”, but after a phase of reflection. Neither budget nor timetable are specified.
Regulatory considerations in the coming months
The cabinet of the minister then gave theAFP that the financing would take place under the France 2030 investment plan. Before we incur costs, “we have to think carefully about how we want to do it”, Jean-Noël Barrot tempers.
In particular, the decisions will be based on a report to be presented to the government next week. It is about “opportunities for a European metaverse”, a campaign promise from candidate Macron.
At the same time, the government is planning to regulatory framework for NFTs, which are still unidentified objects in law”. This framework is demanded by the actors in order to remove legal uncertainty, as Faustine Fleuret, the president of ADAN, was able to point out.
We are going to do some reflections in the coming months to secure the players, open the French market (…) and, as we have done with crypto, to open the European markets,” announces the executive member .
And the minister to address the private sector to make these initiatives a reality. “We cannot make a technological revolution by decree or ordinance. We can only do that with the proliferation of initiatives”, including the NFT Factory.
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