By Shelly Melancon (Switzerland)
Even though the world’s central banks continue to scoff at bitcoin, Wall Street and a French politician are attempting to dive in headfirst. Jean-Michel Mis, a member of the French parliament’s lower house has sent a signed petition to the country’s senate to grant France’s central bank the authority to buy cryptocurrencies, especially bitcoin. The first person to initiate the petition was Francois-Xavier Thoorens, CEO, Ark Ecosystem; he did so at the beginning of this month. In his file, Francois-Xavier referenced Tesla and MicroStrategy as firms who have invested large amounts into bitcoin, he also mentioned that Miami has already announced plans to move its treasury reserves into cryptocurrency. “France needs to adopt a cryptocurrency strategy and back it up with law so that it becomes applicable. Therefore, I wholly recommend a modification to our country’s monetary and financial code to grant Banque de France the authority to trade in various crypto assets as they deem appropriate, including bitcoin.”
However, this discussion can’t be pushed to the Senate floor for discussion till it has 100,000 signatories. At the moment, the number of signatories is not up to 300.
The Goal is to Turn France into A Cryptocurrency Nation
Mis’ ultimate goal is for France to be a blockchain country. He has started by co-founding the french federation of blockchain professionals (FFPB). This group aims to gather local authorities, higher learning institutes, and other companies that deal with crypto assets. Since France is yet to adopt cryptocurrency fully, Mis’ goal may a far-dream, but it will soon come into reality. In the last month of last year, French authorities enabled a law that forbids anonymous crypto accounts to reduce the rate of illicit activities.
The French Government Set to Auction 611 Bitcoins
In a related development, Kapandji Morhange, a Paris-based auction house will be the auctioneer of over 600 bitcoins (about $35 million worth) which the French government seized from hackers. The auction is scheduled for next week Wednesday. According to the company, it is the first time the French authorities will auctioning seized bitcoins. The website of the Paris-based auction house states that there will be two periods for the sale. The first one (which comprises 437 lots 0.11 and two bitcoins) will be by 9 am and the next one by 2 pm. In the second round of sales, there will 41 lots of 5 and 20 bitcoins. These 611 bitcoins are those seized from keystroke loggers over the past two years. Right now, the BTC price is within the $55K range. Data shows that the BTC price has risen by almost 73% since the start of this year, 55% since the start of last month, and almost 21% since the start of this month.
According to Cyberguerre, most of these seized BTC belonged to Gatehub, but the courts seized it from hackers who had hacked the London-based cryptocurrency platform two years ago. The court case remains inconclusive and the accused are yet to receive any sentence. Hence, they can receive part of the sales proceeds provided they’re not found guilty. However, they can’t access these proceeds till the conclusion of the case. Thus, their proceeds will be consigned and transferred to an account belonging to Caisse des Depots et Consignations.
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