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Adan president: ‘2024 has already been a very special year for the Web3 industry here in Europe’

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Adan President Faustine Fleuret | X/faufleuret

Faustine Fleuret, president of France’s Association for the Development of Digital Assets (Adan), stated that regulations for the Web3 industry continue to advance in France and Europe. Fleuret shared her statement during the fourth edition of Adan’s Web3 Leaders Forum in Brussels on July 10.

"2024 has already been a very special year for the Web3 industry here in Europe," said Fleuret. "In France with the strengthening of the French regulation for market players, the adoption of a new framework for Web3 gaming, but also unexpected legislative elections. In Europe with the election of MEPs, the implementation of MiCA, the adoption of the new AML-CFT package, and lots of ongoing debates impacting Web3 companies from open finance to digital identity."

According to LinkedIn, the Web3 Leaders Forum is "an annual event organized by Adan to bring together those working to build a strong, high-impact European Web3 Industry." Entrepreneurs and industry participants meet to discuss the latest topics in Web3.

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France recently passed regulations pertaining to Web3 gaming through the SREN law, according to a release from Orrick. This new law would adapt existing legislation in France to the new regulations of the European Union (EU), including the Digital Services Act (DSA), the Data Act, and the Digital Market Acts.

According to a release from Elliptic, a new provision of the EU’s Markets in Crypto-Assets (MiCA) regulations took effect on June 30 for all stablecoin issuers, ushering in "a new era of regulatory oversight for innovators in the Crypto space." This new rule states that "issuers must now obtain approval from relevant member state authorities before offering their tokens within the EU, or when offering stablecoins pegged to the euro or other member state currency."

The EU also recently adopted legislation pertaining to terrorist financing and anti-money laundering (AML). According to the European Commission website, "The new Regulation on the Traceability of Transfers of Funds (TFR) ensures the traceability of crypto-assets transfers and the authentication of users, aligning with FATF standards. It will apply as of December 2024." This legislation also complements other regulations outlined in MiCA.

According to LinkedIn, Fleuret is a graduate from Technological University at Dublin with a bachelor's degree in management sciences as well as from University of Paris with a master's degree in finance and banking. She has been President and CEO of Adan since 2021 and holds certifications in MOOC Global Energy Issues and MOOC Financial Regulation.

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