French President Emmanuel Macron recently dissolved parliament and called for a snap election following the victory of his rival Rassemblement National party in the European Parliament election. The election is set to take place in two rounds on June 30 and July 7. Despite the potential political changes, experts believe that the country’s progress in the crypto industry is unlikely to be reversed. France has seen significant growth in the number of registered crypto companies, with 74 companies registered last year and an expected increase to 100. In comparison, the U.K. has only 44 registered crypto companies.
Macron’s decision to call for an election comes after the National Rally party, led by Marine Le Pen, secured 31.4% of the seats in the European Parliament. This performance surpassed that of the ruling Renaissance party, prompting Macron to take action. As the second-largest country in the EU by population, France was allocated 81 seats out of 720. The EU recently passed the Markets in Crypto Assets (MiCA) legislation, a comprehensive package for crypto companies operating within the bloc. The legislation allows crypto companies to operate across the EU with a license from any member nation.
In a televised address, Macron acknowledged the message sent by voters and vowed to respond to their concerns. The upcoming election will be a critical moment for the future of French politics and could potentially impact the country’s stance on the crypto industry. Despite the uncertainty surrounding the election, experts believe that France’s progress in attracting digital asset companies is likely to continue. The country’s efforts to position itself as a crypto hub have attracted attention from investors and companies looking to enter the European market.
The dissolution of parliament and the snap election call have raised questions about the future direction of French politics and its impact on the crypto industry. Macron’s decision to respond to the message sent by voters shows his commitment to addressing their concerns, but the outcome of the election remains uncertain. As France prepares for the upcoming rounds of voting, stakeholders in the crypto industry will be closely monitoring the developments to gauge potential impacts on their operations.
In conclusion, the snap election called by French President Emmanuel Macron following the victory of the Rassemblement National party in the European Parliament election has set the stage for a critical moment in French politics. Despite the political uncertainty, experts believe that the country’s progress in the crypto industry is likely to continue. France’s efforts to attract digital asset companies and position itself as a crypto hub have shown promising results, with a significant increase in registered crypto companies. As the election approaches, stakeholders in the crypto industry will be watching closely to assess the potential impact on their operations and the future direction of French politics.
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