The Institute of Crypto-Assets, a research center dedicated to blockchain technology and cryptocurrencies, has officially opened its doors at the Léonard de Vinci Center in Paris, France. Situated in a bustling business district just outside the city, this newly established hub aims to support and conduct cutting-edge research in the field of blockchain technology and cryptocurrencies.
Research Labs and Expert Panel
The institute features state-of-the-art blockchain and cryptocurrency research labs, staffed by a scientific board comprising 11 experts from esteemed French academic institutions such as CNRS and École Polytechnique. Overseeing the institute’s work is a committee of six industry practitioners, including notable figures such as Nicolas Bacca, co-founder of Ledger, and Pierre Noizat, founder of the crypto exchange Paymium.
Focus on Education and Knowledge Sharing
Cyril Grunspan, the director of the Institute of Crypto-Assets, emphasizes the institution’s primary focus on education and fostering open discussions about crypto-assets. The aim is for the institute to serve as a hub for knowledge dissemination and collaboration within the rapidly evolving blockchain landscape.
To kick off its activities, the Institute hosted two inaugural lectures. The first, delivered by historian Jacques Favier, explored the history of currencies leading up to Bitcoin. The second lecture, conducted by cryptographer David Pointcheval, delved into the topic of zero-knowledge proofs and anonymity. These lectures set the tone for the Institute’s commitment to public engagement and knowledge sharing.
As the Institute of Crypto-Assets establishes itself as a center of excellence in blockchain research, it plans to host regular public events to further contribute to the education and awareness surrounding crypto-assets.
France’s Commitment to Regulation
In line with the European Union’s regulations for the cryptocurrency sector, France has revised its registration requirements for crypto firms. These changes align with the broader regulatory changes set to be introduced through the Markets in Crypto Assets (MiCA) regulation.
The Autorité des marchés financiers (AMF) announced in August that it would enforce “enhanced” registration requirements from January 1, 2024. These requirements will be obligatory for new entrants seeking to provide regulated services. The introduction of a fast-track procedure for authorization will facilitate swift approval for firms already operating in France with prior approval.
Existing Digital Asset Service Providers (DASPs) that secured simple registration before January 1, 2024, will be “grandfathered” under the regulatory framework applicable before this date.
Amid these regulatory developments, a recent survey by crypto exchange KuCoin highlights the growing interest in the crypto market among young investors in France. Approximately 8% of internet users aged 18 to 60 in the country are now involved in the crypto space. Interestingly, 40% of Gen Z crypto investors entered the market in the last six months, indicating a rapid adoption trend among younger demographics.
Despite the fact that 60% of Gen Z crypto users earn less than 35,000 euros per year, the study indicates a robust interest in crypto assets. This surge in interest aligns with the broader trend of companies seeking approvals in France ahead of the implementation of the EU’s landmark MiCA regulation passed in April.
