France
Cryptocurrency information about France
How many crypto owners in France?
It is estimated that over 2.1 million people, 3.34% of France’s total population, currently own cryptocurrency.(1)
France – potential global crypto hub?
In 2018, a survey by ING found that 50% of French residents had heard of cryptocurrency. Comparing this with the 2019 survey results from IE CGC, cryptocurrency awareness among French have increased slightly to 51%. This suggests a growing interest among French in purchasing cryptocurrency since 2018 which varies significantly across age and income.(2)
Are French open to crypto?
Breaking down cryptocurrency ownership by income, ownership levels are significantly higher among the very wealthy. 67% of the surveyed French have an annual income greater than €300,000, more than twice that of any other income group.
Majority of French cryptocurrency owners are in the 18-34 age group (30%). 4% of them are 55 and above. Cryptocurrencies are largely owned by young, tech-savvy and wealthy French residents.
Highly educated French are more likely to own cryptocurrencies, 21% of them hold a doctorate education and equivalent, while 5% with a secondary education. On top of that, a higher percentage of French men (9%) own cryptocurrencies than women (6%).
59% of French cryptocurrency owners are already using cryptocurrency to make purchases, while the rest own cryptocurrency solely for investment purposes.
Crypto’s rising popularity in France
- CryptoBriefing: France’s 3rd Largest Bank Launches Tokenized Debt on Tezos – April 2021
“This new experimentation, performed in accordance with best market practices, demonstrates the legal, regulatory and operational feasibility of issuing more complex financial instruments (structured products) on public blockchain,” reads marketing materials from the French bank. - EconomicTimes: French government to pocket $30 mn from first-ever cryptocurrency… – March 2021
Governments might look askance at bitcoin, but it does not mean they do not want to cash in on its soaring value and France is set to pocket nearly $30 million from its first-ever action of the cryptocurrency, a minister said on Wednesday. The sale was of more than 600 coins seized as part of an investigation and were valued at more than $30 million based on current market prices. - Cointelegraph: French retail giant will launch Tezos-based stablecoin – March 2021
According to journalist Grégory Raymond, the French retail giant will be launching the stablecoin to use in its stores’ loyalty programs as well as for trading. Groupe Casino oversees more than 11,000 stores in France and Latin America. The coin has reportedly been developed using the Tezos protocol in partnership with crypto exchange Coinhouse, accounting firm PricewaterhouseCoopers, stablecoin infrastructure provider Sceme, research and development firm Nomadic Labs, and financial services group Societe Generale. - Cointelegraph: French official wants to change how Europe regulates crypto… – February 2021
France’s top financial regulator has proposed to change the way the cryptocurrency industry is supervised in Europe. Robert Ophèle, chairman of Autorité des Marchés Financiers, addressed crypto-realted regulatory issues at the 5th Annual Conference on FinTech and Regulation. The official argued that financial supervisors must take a new approach in regulating blockchain-based financial instruments due to massive growth in the market. - Bitcoin.com: France Approves New Cryptocurrency Measures… – December 2020
France’s Council of Ministers endorsed an ordinance containing a series of measures to tighten the surveillance of cryptocurrency activities last week. The ordinance, which will enter into force in six months, was submitted by the French Minister of Finance, Bruno Le Maire, along with ministers Sébastien Lecornu and Olivier Dussopt.
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