Macron Discusses Crypto Industry: Europe Needs to Maintain Unified Regulations, Develop Policies on NFTs

The French presidential election officially concluded yesterday on the 24th, with the incumbent president Macron winning with a 58.5% of the vote, becoming the first president in France to be re-elected in 20 years. In the days leading up to the election, Macron coincidentally gave an interview to the cryptocurrency technology media thebigWhale, discussing his views on Web3, the Metaverse, and NFTs.

Macron's Views on Web3

In a recent interview, Macron shared his vision for his second term, touching on topics related to startups, technology, and his thoughts on European crypto regulation.

When asked about his thoughts on Web3 and whether France is a good opportunity for development, Macron highlighted that Web3 presents an opportunity that cannot be missed. He believes that France and Europe have the chance to lead the next generation of the internet. While France possesses the assets and talent in this field, in a world where technology evolves faster than economic leadership, maintaining jobs and independence is crucial. However, this poses a challenge to French society as the pace of technological advancement has become centrifugal in our society, with individuals mastering digital technologies, AI, quantum, and blockchain, and it must be ensured that these technologies are still being used for the service of society and development.

Europe Must Master Metaverse-Related Technologies

Following the discussion on Web3, thebigWhale also asked about metaverse-related issues and Macron's thoughts on a "European metaverse."

Macron believes that whether it's Web3 or the metaverse, both may represent the next stage of internet development and it is essential for Europe to empower users to master the technological constructs in this area to avoid over-reliance on the U.S. or China in the future.

Furthermore, establishing a European metaverse also means creating, promoting, and owning our cultural and creative content. Due to its applications in music, concerts, art exhibitions, among others, the metaverse holds great potential in culture and leisure entertainment.

"I hope that our major cultural institutions will establish NFT policies to promote, disseminate, and protect the changes of digital twins or their physical collections. Finally, through its language, heritage, cities, villages, and monuments, France must also exist in the metaverse," Macron stated.

Regulation of the Crypto Industry

The EU passed an amendment to the "Funds Transfer Regulation" on March 31, prohibiting anonymous cryptocurrency transactions exceeding 1,000 euros, a move seen in the industry as stifling innovation and infringing on privacy. Using this law as an example, thebigWhale asked Macron if he is concerned that Europe or France might miss out on significant changes due to strict restrictions.

Macron believes that the most important thing is to establish clear guidelines, even if these technologies or applications have great potential. Self-regulation in the financial sector cannot be trusted, and this approach is neither democratic nor sustainable in the long run.

"We must now ensure the uniformity of rules on European territory to create a single market. In this context, I support the Council for making rapid progress on the Market in Crypto-Assets (MiCA) regulation, inspired by a balanced approach advocated by the Parliament and rooted in the French framework. France will closely monitor that the content does not hinder innovation and strive to remain as neutral as possible in technology," Macron stated.