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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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Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

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.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

UK’s digital assets bill brings much-needed clarity to digital asset regulation

On November 6, the UK government issued an updated version of the Property (Digital Assets Etc.) Bill, clarifying its approach to defining digital assets, including crypto tokens, as recognized property under English law. The update aims to provide greater security and clarity for individuals and businesses engaging with digital assets.

Nov 20, 2024

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

Matt Law, Chief Commercial Officer at Outlier Ventures, said that it would not "surprise" him if many people embrace "more efficient," cost-effective systems like tokenization to gain the "same user benefit."

Nov 16, 2024

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