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Secretary of State for Digital Affairs: Savoyards 'largely renewed their confidence in me'

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Marina Ferrari, Secretary of State for Digital Affairs, was re-elected | X/Marina_Ferrari

By Crypto Republique

Jul 11, 2024

Marina Ferrari, France's Secretary of State for Digital Affairs, announced her re-election in Savoie's 1st constituency. Ferrari shared her statement in a July 7 post on X.

"Thank you to all the Savoyards who largely renewed their confidence in me this evening," said Ferrari. "At the local level, as at the national level, I will be keen to reduce the territorial divides that I was once again able to identify during this campaign. I will put all my strength and energy into it."

According to Le Monde, Ferrari, who has represented Savoie's 1st constituency, won 58.08% of the vote in the second round of France's parliamentary elections. She defeated Typhanie Degois of The Republicans-National Rally.

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During her tenure as Secretary of State for Digital Affairs, Ferrari has highlighted France's leadership position in financial innovation and encouraged greater cooperation among traditional financial players, digital asset industry participants, and investors to ensure France maintains its position, according to Talos.

However, DL News reported that the leftist New Popular Front party secured the largest number of seats in the recent election. This development could threaten France's competitive edge in the digital asset industry. Members of the party have said they aim to abolish President Emmanuel Macron's tax cuts that he implemented to attract foreign investment in the crypto sector. The tax cuts were one reason, along with clear regulatory guidelines for crypto market participants implemented in 2019, that leading companies including Binance, Circle, and Crypto.com selected Paris as their European headquarters.

Faustine Fleuret, president of France's Association for the Development of Digital Assets (Adan), said changes in the country's tax regime are dependent upon several developments that have yet to unfold. "We do not know which coalitions might be formed, who the future Prime Minister will be, who the new president of the National Assembly will be, or who the heads and composition of the parliamentary committees will be," Fleuret said.

As Secretary of State for Digital Affairs, Ferrari is involved with policies related to strengthening digital skills and technology adoption. According to the European Union, Ferrari is also responsible for preparing and coordinating France's "digital transformation" policies.

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