Pierre Person, a defiant 33-year-old National Assembly member of France for the past five years, fought a slow battle to persuade France’s traditional financial systems and figures of the benefits of cryptocurrency.
Person, a former LREM parliamentarian, is optimistic that attitudes toward digital currencies will become more receptive as cryptocurrencies become more mainstream and as the lower house of parliament undergoes changes as a result of legislative elections in May, in which President Emmanuel Macron’s LREM party lost its majority.
He told Euronews Next at the International Financial Forum in Paris, “When I first became interested in it in 2017-2018, it was a relatively unknown topic that was not mainstream.”
“I believe that our decision-makers view cryptocurrencies differently. Now that an increasing number of people are expressing an interest in cryptocurrencies, politics can no longer ignore the topic.”
In September 2021, during Person’s tenure in the French Parliament, he introduced a series of crypto-related amendments, including a 30% flat tax on digital assets. He also requested that French firms be permitted to pay their employees and partners in digital assets.
The amendments were put on hold until 2023 because many other deputies disagreed with him.
However, Macron’s party has maintained its pro-innovation stance since its 2016 inception, and Person argues that, alongside the country’s economic stability, “the government is in favor of the arrival of this capital to promote innovation.”
A person stated that the real question is how the Assembly wishes to portray its stance on digital assets and digital currencies, and he hopes it will be one of transparency.
“Existing players, specifically commercial banks, must be more receptive to these new players,” he said.
France has become more accepting of these new companies. In May, the government of the country granted regulatory approval to Binance, the world’s largest cryptocurrency exchange platform.
The person believes that traditional banking models and cryptocurrencies will always be in conflict, despite the relative acceptance of cryptocurrencies.
“It is true that headwinds always exist. “Traditional finance doesn’t understand the issues, has difficulty adapting, and doesn’t want to be pushed around,” he explained.
“However, this does not imply that we should shut the door and erect barriers, as we are aware of the outcome. We’ve seen what’s happened with streaming and many Web 2.0 activities, and we know that innovation and competition are beneficial to a nation’s economic growth.