Leaders of the French digital asset and blockchain industry form the Association for the Development of Digital Assets
For several years, digital assets have been booming. Today, bitcoin and hundreds of other assets are traded on specialized protocols: cryptocurrencies, ICO tokens, stablecoins, representations of real assets or financial rights… This new digital value field is immense and brings out new verticals and new unicorns.
In France, a specialized industry has developed since 2011 and now covers all activities in the sector: exchange platforms, brokers, hardware, protocols, advisors and (decentralized) applications. The digital assets and blockchains sector represents today more than 50 companies and thousands of jobs. With the PACTE law, passed in 2019, France has adopted one of the most suitable frameworks in the world for blockchain and digital assets. This relative success, however, masks a great lack of competitiveness compared to the giants of the industry – most are located in the United States or Asia. It is crucial that France and Europe work to grow their digital asset sector, for economic but also political reasons.
To help structure and develop the industry, and increase awareness with public and private sector actors, ARK Ecosystem, Blockchain Partner, Coinhouse, Coinhouse Custody Services, ConsenSys France, iExec, Kaiko, Ledger, LGO, Nomadic Labs and Woorton are now joining forces to create the ADAN, the Association pour le développement des actifs numériques. The association will represent the industry before public authorities and civil society.
Its work will include: helping to put into practice the supervision of digital assets service providers under the PACTE law, raising awareness of existing industry solutions, pushing for improvements to the existing legal and tax systems and bringing to the attention of public authorities targeted support measures to develop an industry of international scope.
For its launch, the association will shortly hold an event named “Digital assets: opportunities for France and Europe” in Paris.
Simon Polrot, President of the ADAN, highlights the progress made in France: “ In the last few years, existing associations have given impetus to initiatives at the highest level of the State, which have enabled the creation of one the most suitable legal frameworks in the world. I salute all the players who have contributed to it and I am very proud to have the opportunity, with ADAN, to professionalize these efforts and intensify them in France, of course, but also at the European level.”
Eric Larchevêque, Executive Chairman of Ledger and Chairman of the Supervisory Board of Coinhouse, specifies:” Today, France has taken a very good first step with the PACTE law, and we salute it. But we must go further to help France become a major player. It’s a real change of approach that must take place within institutions and economic actors and we will be there to stimulate and support it.”
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