Binance Blockchain Week is being held in Paris from September 14-16, 2022, and the first keynote was a fireside chat with stock exchange CEO CZ Zhao and French Minister of Technology and Telecommunications Jean-Noël Barrot.
The topic of this discussion was the role of France and Europe in the digital revolution and in particular in the blockchain and cryptocurrency sector.
On the stage of the event, Minister Barrot said:
“We are happy to welcome Web3 companies and startups involved in finance and decentralized finance.”
Many crypto talents in France
One of the topics that emerged was the concentration of talent in the territory: historically, the French are great mathematicians and engineers. CZ explained that in France alone, Binance has over 150 employees and plans to hire at least 100 more people by the end of 2022.
This makes France the biggest hub for Binance, although recently Italy has become the first among European customers.
Either way, it’s a “talent pool,” as Zhao calls it, that has certainly made France an attractive place to decide to open offices.
“France is a welcoming place for crypto” CZ said.
After all, so many successful companies are French in the industry, such as Ledger, Sorare or The Sandbox, so it’s no coincidence that France boasts and continues to push to be a industry leader.
Crypto regulations in France
Even more important is certainly the regulations, which according to CZ are very clear and precise in France, with a government ready to meet the needs of companies, even if on the other side the laws are very strong and therefore a lot of work must be done. to comply with all requirements.
One of the still unresolved issues in France is the overly strict regulation for stablecoins and the lack of clarity in terms of DeFi and NFT, although it seems the government is working on it.
Almost everyone present at the event highlighted this aspect of French laws, even Pierre Person, a former deputy and former member of the National Assembly.
Binance is very careful to comply with local regulations and was in fact the first to register as Virtual Asset Service Provider (VASP) in France, even before Italy.
It was actually France that inspired the MiCA, which has since made its way to Italy as well as the registry where crypto service providers must register.
To further improve French crypto regulations, during the panel entitled “The French example: how France is leading the way in the blockchain ecosystem”, moderated by French country manager David Princay, a regulatory sandbox of 3 years will open from March 2023 to allow innovation to flourish and provide new opportunities for crypto and blockchain businesses.
Crypto Education and Discussion Center
Certainly one of the activities that Binance focuses on crypto education to teach everyone about blockchain, platform security, and more.
Indeed, just today, CZ announced on stage at Paris Blockchain Week that Binance has partnered, in part with support from Macron’s French government, with one of the top schools in Paris for a program aimed at teach more than 10,000 French students.
According to CZ, France is an important financial center on par with New York and London, and especially in cities like Paris, the French government is trying to attract more and more new companies and startups, trying to have less corporate taxes and clearer crypto regulations.