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The Association for the Development of Digital Assets (Adan), a France-based organization comprised of Web3 professionals, has released a new report titled "Web3 and Crypto in France and Europe." The report was submitted to Marina Ferrari, the country's Secretary of State for Digital Affairs, according to a statement Adan shared in a March 19 post.
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Adan President and CEO Faustine Fleuret (left) and Marina Ferrari, France's Secretary of State for Digital Affairs | LinkedIn/faustine-fleuret, X/FerrariMarina73
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"Submission of the report 'Web3 and crypto in France and Europe' to the Secretary of State for Digital @FerrariMarina73 this morning, at the Ministry of the Economy and Finance," said Adan, according to his post on X. "Thank you Madam Minister for your encouraging words for the sector and for the actions you wish to take in the months to come. We share your ambition: the balance between promoting innovation and protecting consumers through appropriate standards will make it possible to best support our talent pool towards the development of real champions of international stature. We also support the priority areas of Government action mentioned, and in particular the imperative to unlock financing for the industry at all stages of maturity."
According to Adan, the report includes the results of its third annual survey on Web3 and digital assets in France and Europe. The survey was conducted in partnership with KPMG and the Ipsos polling institute. It revealed that 12% of France's population, or 6.5 million individuals, currently own digital assets, marking an increase from 9.6% the previous year. The survey also found that slightly less than 25% of respondents who do not own digital assets said they would consider acquiring them in the future. Adan referred to this as an "important source of adoption for the next few years." The survey also highlighted that 24% of French crypto investors are between the ages of 18 and 24, while 57% are younger than 35.
Adan's report also pointed out similar rates of crypto adoption in other European countries such as the Netherlands (17%), the United Kingdom (16%), Germany (12%), and Italy (11%). These results were based on responses from 2,001 French participants and approximately 1,000 respondents each from Germany, the United Kingdom, Italy, and the Netherlands.
Adan was launched in Paris by eleven French digital asset and blockchain professionals in January 2020. According to information on its website, original stakeholders included Ledger, Kaiko, ARK Ecosystem, and ConsenSys France. Adan stated that while France already had "one of the best adapted and most innovative legal frameworks in the world for the development of activities related to digital assets," the creation of Adan would help France remain competitive with other countries in the digital asset space.
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The Italian government recently announced a plan to increase the capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%. This proposal, part of broader fiscal measures to support election pledges and reduce Italy’s fiscal deficit, has raised concerns among cryptocurrency investors and industry leaders.
On November 14, the European Banking Authority (EBA) released comprehensive guidelines for Payment Service Providers (PSPs) and Crypto-Asset Service Providers (CASPs) to ensure alignment with European Union (EU) and national restrictive measures. These guidelines aim to reduce risks and strengthen compliance when transferring funds or crypto assets.
The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.
OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.
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