Last week, the French Digital Asset Association (FD2A) was created by members from investment firms, law firms, cryptocurrency exchanges, market makers, and consulting firms. The group plans to establish working groups to tackle issues related to laws, taxation, the use of blockchain technology, and asset tokenization throughout France and beyond.
The French Digital Asset Association (FD2A) Explained
The country of France has made several recent headlines involving digital assets.
Just a few weeks ago, the French Central Bank Governor, Villeroy de Galhau, said the Bank of France is observing tokenized securities and stablecoins “with great interest”.
Last month, Societe Generale— France’s third largest bank— issued a €100 million tokenized bond on the Ethereum blockchain. Earlier this year, Kriptown, an asset tokenization platform, raised €475,000 through its first Initial Token Offering (ITO).
Now, a group have experts have formed the FD2A to further integrate blockchain and Distributed Ledger Technology (DLT) with traditional finance.
The association will organize working groups to design solutions for problems surrounding the following four main areas:
- Laws and regulations
- Taxation and the accounting of digital assets
- Blockchain and DLT
- Asset tokenization
The group’s board of directors includes President Jean-Benoît Gambet of Eiffel Investment Group, Vice-President Charlie Meraud of Wortoon, Spokesperson Zahreddine Touag of Woorton, and Treasurer Karim Sabba of Woorton.
The association aims to gather industry thought leaders at events and conferences, advocate for the continued development of digital assets in France, and democratize digital assets through seminars and training.
In further detail, the larger mission includes the following:
- Creating partnerships and building relations by bringing key bodies, firms, and individuals together
- Contributing to legislative discourse with regulatory bodies in France, Europe, and on a global stage to reduce risks and foster innovation
- Promoting the ‘attractiveness’ of the French jurisdiction
- Supporting new business models which feature the tokenization of much of the existing economy
- Sharing knowledge and experience through education and training
What do you think of the FD2A and the future of digital assets in France? Will France lead the way towards tokenization in Europe? Let us know what you think in the comments section below.
Image courtesy of FD2A.