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Binance France President: League for Web3 Security 'is an important step to guarantee the security of French users'

Webp princay 1
Binance France President David Princay | X/davidprincay

David Princay, the president of Binance France, has announced that the newly established League for Web3 Security is "an important step to guarantee the security of French users." Princay shared his statement in an April 8 post on X.

"Very happy with the creation of the League for Web3 Security," said Princay. "This is an important step to guarantee the security of French users!"

The League for Web3 Security was initiated by Sebastien Martin, CEO of cybersecurity firm RAID Square, as reported in Capital. Martin stated that approximately 40 individuals and entities have joined the new organization. He emphasized that it was "essential to create a public-private structure in the form of a non-profit association" comprised of members with an interest in cybersecurity within the blockchain and digital asset ecosystem.

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According to Martin, who will serve as president of the new organization, the board of directors will include representatives from Binance, RAID Square, Kramer Levin, France's Ministry of the Interior's COMCYBER, Morpho Labs, and Blockchain EZ. He underscored the "diversity" of the group's members, which range from law firms to crypto industry participants. Martin added that both public and private sectors "shared the same observation of the need to have walls of transmission and dialogue."

Capital reported that Martin revealed that the League's first initiative would be to create educational materials related to scams and how to respond to them. Subsequently, the group plans to launch a Cyber Commission aimed at raising awareness about common security challenges faced by digital asset service providers. He compared this growing adoption of cryptocurrency to when virtual credit cards were introduced and users had to learn best practices such as two-factor authentication.

The League expressed its mission in a post on X: "Specialized lawyers, cybersecurity experts, business leaders, members of law enforcement, communications professionals, and many others mobilize within our association," adding "Our mission is clear: pool our skills and resources to meet the security challenges of WEB3."

Bgnes reported that since 2020 Princay has been leading Binance's French operations, the largest crypto exchange in the world by trading volume. Princay was instrumental in establishing Binance's presence in France by securing a DASP (Digital Asset Service Provider) registration. He is an alumnus of HEC Paris.

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