Binance Blockchain Week: Will France Lead in Crypto Going Forward?
Binance CEO CZ recently called on France to be Europe's crypto hub. This is what Binance Blockchain Week panelists had to say in Paris.
Binance Will Always Have Paris
Amid our reporting on developments from Binance Blockchain Week in Paris, Binance CEO Changpeng Zhao called on France to be the hub for crypto in Europe.
How is France leading the way in the blockchain space?
Some viewpoints on that topic were expressed during a Binance Blockchain Week panel discussion, led by former French parliament member Pierre Person, France FinTech Founding Chairman Alain Clot, and Adan President Faustine Fleuret.
The panelists said they are extremely bullish about the blockchain space as a whole. Person kickstarted the conversation by talking about his early days when blockchain wasn’t too popular. He said:
“I discovered blockchain in 2013, I kind of knew that it will change the world and it did. So, I decided to work with regulators to build a framework in Europe about crypto assets. Now there are a lot of regulations all over the world but back then we were the only ones.”
Fleuret noted that if France is to lead the blockchain ecosystem, there is much work to be done. Toward that end, Adan is a professional organization with the goal of representing all the crypto proponents that will help build the Web3 industry in France.
Clot said that the blockchain industry is a sustainable one in France and across the whole of Europe when seen from a global perspective. He said that France already has a great pool for talent, and the fintech ecosystem in France is the second-largest in Europe according to nearly all metrics.
There are around 40,000 crypto jobs in France, and in this year alone 12,000 were created, he said.
Anti-Crypto Establishment
Despite the optimism for crypto in France, the country and continent have plenty of naysayers, including some in high places.
For example, European Parliament member Assita Kanko of Belgium has said she isn’t “anti-crypto,” while focusing on the potential criminal misuses of cryptocurrency and proposing legislation that industry leaders say would harm privacy and innovation.
In an interview with Euractiv, she said she had been the subject of racist, sexist and violent messages in response to her stance on crypto.
She said, “Crypto is not necessarily bad. People are free to use whatever they want, but some bad people use anonymity to do bad things. We want to protect society against that and also increase trust in the crypto world.”
Other politicians argued that the financial transactions between banks can be traced, but no one knows who is behind the crypto assets. According to them, there need to be more rules in place.
Despite hurdles that the entire crypto sector faces in the form of legislation and skepticism, France seems well-positioned in terms of infrastructure and regulations to become the leader of the blockchain space in Europe.
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Binance Executive Tigran Gambaryan Sues Nigeria's NSA and EFCC
The lawsuit reflects escalating tensions amidst allegations of innocence and regulatory scrutiny surrounding Binance Nigeria's alleged involvement in illicit financial activities.
The detained executive of Binance, Mr. Tigran Gambaryan, has taken legal action against Nigeria's National Security Adviser (NSA) Nuhu Ribadu, and the Economic and Financial Crimes Commission (EFCC).
Gambaryan, along with the firm's Africa Regional Manager, Mr. Nadeem Anjarwalla, filed a fundamental human rights violation suit amidst ongoing legal turmoil.
Gambaryan's legal challenge, initiated alongside his lawyer Mr. Olujoke Aliyu, aims to address his prolonged detention by the federal government. The suit, presented before Justice Inyang Ekwo of the Federal High Court in Abuja, challenges the legality of Gambaryan's continued confinement and the seizure of his international travel passport.
Gambaryan, a US citizen overseeing financial crime compliance at Binance, contends that his detention and passport seizure violates Section 35 (1) and (4) of Nigeria's 1999 Constitution. His legal team seeks various reliefs, including his release from custody, the return of his passport, a public apology from the NSA and EFCC, and an injunction against future investigations.
Allegations of Innocence Amidst Legal Turmoil
Gambaryan and his colleague's legal representatives maintain their innocence, claiming that the arrests occurred during discussions with Nigerian authorities regarding legal conflicts involving Binance.
In a dramatic turn of events, Binance's African regional manager, Nadeem Anjarwalla, recently fled Nigerian custody. Anjarwalla's escape follows mounting tensions surrounding the Nigerian authorities' investigation into alleged illicit financial activities involving Binance Nigeria, totaling a staggering $26 billion.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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