Newsletter – October 2021
A new year full of promises for the crypto-asset sector. Announcements from our French companies that are impossible to miss, such as Sorare, Deskoin or Société Générale – Forge. Caisse des dépôts et des consignations, a member of the Association, which becomes the 23rd DASP registered with the AMF. High hopes for improving French taxation, as 46 MPs have co-signed the amendments proposed by Adan to be debated, in the framework of the PLF 2022, in the Finance Committee of the National Assembly. The French are the second most active European citizens in crypto-asset trading, according to the recent Chainalysis study. A significant event, such as Money 2020, which dedicates a panel to decentralised finance, is the same week that The Economist publishes its special report on the subject (treated with complete objectivity yet enthusiasm). The Association’s members still have a lot to teach you; check their news at the end of the newsletter. This is proof that the subject is not running out of steam; on the contrary, French players are at the forefront of innovation in crypto-assets. A few news items have marred this optimistic recovery against a backdrop of unfair competition from unregistered or unregistered DASPs.
To continue to galvanise this momentum and relentlessly address the obstacles to developing an industry that is displaying its ambitions, Adan and its members got down to business at our back-to-school plenary meeting, where we had the joy of all of us meeting “for real”. And our roadmap is ambitious. Indeed, our actions must be set in the French political calendar and the 2022 elections (presidential and legislative) and the European agenda at the intersection of the multiple works on MiCA, the pilot scheme, the LCB-FT framework and the ECB’s digital euro. To be on all these fronts, we are strengthening the team with the arrival of a new gem in November.
This is why, to talk about everything that awaits us until June 2022, we look forward to seeing you in October at the many forums for exchange on the subjects of innovation: the ACPR-AMF Fintech Forum (11 October), Fintech R:evolution (14th October), the Innovation and Digital Transformation Club’s dinner-debate on “the digital transformation of transactions: an economic challenge, a societal issue” (19 October).
So see you soon, but first, don’t forget to say hello to our two new members for September: Legal Brain Avocats and Origami Avocats. A warm welcome to them!
Adan partners with FINTECH R:EVOLUTION
Adan is pleased to support and take part in FINTECH R:EVOLUTION 2021! We will be present on October 14, 2021, on the roof of the Grande Arche de la Défense. Come and meet us on our stand to learn more about Adan and the digital assets sector and understand France and Europe’s challenges. Information and registration Use the code ADAN30 and get a 30% discount on your tickets
Blockchain protocols and their energy footprint
In the last months, the idea that blockchain technologies and crypto-assets consume an excessive amount of electricity has been at the heart of discussions. In its previous article on the ecological impact and challenges of blockchain technologies, Adan qualified the debate on the energy consumption of the various blockchain networks and recalled that the energy requirement of these technologies depends on their consensus protocol and the number of network users.
After the crypto tsunami, the wave of regulation?
The replay of Faustine’s intervention during Surfin’ Bitcoin 2021 event is available on their Youtube channel. Catch up on this helpful update, completed by William O’Rorke and orchestrated by Gregory Raymond, on the French regime and European perspectives on the regulation of the crypto-asset industry.
The month of September saw an increase in the number of institutional works and meetings, including :
- [Roadmap for the crypto industry] For the first time, Adan organised its annual meeting with its members (40 present) to define the Association’s strategy and priorities in line with the French political calendar and the work of the European Union. This roadmap is based on three main points:
- Anchoring the issues of the French crypto industry in the 2022 political landscape: giving an increased dimension to our actions;
- Strengthen the visibility and competitiveness of the French industry: continue to work for its development and influence;
- Create a favourable European environment for crypto-assets: maintain our vigilance on its ongoing construction;
- [Taxation of crypto-assets] The Association is bringing its proposals to the debates around the Finance Bill (PLF) 2022. We have prepared eight amendments, carried by 46 MPs from 4 different parliamentary groups, to be discussed in the French National Assembly. Adan remains vigilant as to the continuation of the work on the PLF 2022;
- [DASP] Adan has finalised several documents:
- Our methodological guide for DASPs to help them set up their AML/CFT system (soon to be published);
- The analysis of our Legal Committee on the qualification of certain services and the cumulation of the DASP status with other statuses
- [General issues for the industry] Adan was invited to the breakfast organised by Mr Person at the National Assembly to raise awareness of the opportunities and challenges facing the French digital assets sector and the strategic need to support its development.
The month of September allowed us to make progress on many cross-cutting issues and to carry out various actions at the European level:
- [European Sovereignty] Adan met with the European Council of Foreign Relations;
- [AML-CFT] Adan is finalising its position on the reform of the European framework for combating money laundering and terrorist financing, proposed in July by the European Commission. We participated in the presentation meeting organised by the Directorate General of the Treasury;
- [Pilot scheme] The Association remains vigilant as the European trialogue has just started.
In September, Adan took part in several events:
- Participation in the “ANACOFI Summer University” on 1st September on the theme of alternative investment;
- Intervention at the “Money2020” conference on 22nd September on the subject of decentralised finance;
- Participation in the “Assises des Technologies Financières” on 30th September on the subject of economic sovereignty;
- Participation in the “Diaspora Business Meeting” conference on 1st October on the theme of emerging banking solutions.
- Chainalysis: The second edition of the annual cryptocurrency geography report can now be booked on the Chainalysis blog. Read more
- CryptElite: CryptElite improves its ergonomics with a brand new version of its portfolio management platform, reinforces its robustness by integrating new algorithmic strategies to its selection, and offers more flexibility by now allowing the management of a capital composed of BUSD and/or USDT! Read more
- Digital Mango: New website launched! Read more
- iExec: iExec’s crypto-currency, RLC, is now listed on the exchanges Bancor and KuCoin. In addition, as part of the European Blockchain Week, iExec led a workshop on the interest of decentralised marketplaces for the simplification of exchanges. Read more
- Just Mining: We are recruiting an experienced sales manager. Read more
- Nomadic Labs: Block0 joins the Tezos ecosystem as the first Belgian corporate baker. Read more
- Ownest: Ownest has renewed its partnership with e-commerce giant Cdiscount for three years in order to better track parcels weighing more than 30 kg. Quentin de Beauchesnes, our Head of Blockchains, talks to Les Echos. Read more
- Paladin: We have just deployed our decentralised protocol (app.paladin.vote) and raised $2.55M. Read more
- Retreeb: A few days after having completed its IEO on Probit Exchange, Retreeb has just listed its token the $Treeb the 1st DEX of the fantom eco-system: Spooky Swap. Read more
- Scorechain: Scorechain has conducted a study on the 10 most secure digital asset service providers (DASPs) using data from the Scorechain Entity Directory. Scorechain Entity Directory lists more than 700 DSPs and analyses their know-your-customer (KYC), anti-money laundering and counter-terrorism financing (AML/CFT) and security procedures to assess their credibility and risk level. Read more
- SkillZ: SkillZ is recruiting 12 new positions (technical, product and business) to support its acceleration. Read more
Since the beginning of September, we have welcomed two new members, welcome to them!
- Legal Brain Avocats: Law firm specialised in digital law (blockchain, AI, personal data, IP, labour law…).
- Origami Avocats: Law firm specialised in decentralised finance and crypto-assets.