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Emmanuel Macron defends Europe as a leader in cryptocurrencies, NFTs and the metaverse

3 min read

French President and current re-election candidate Emmanuel Macron does not usually comment on the cryptocurrency market as a whole. However, in a recent interview with The Big Whale, the political leadership finally exposed what they think about Web3, cryptocurrencies, the metaverse, blockchain and NFTs.

For Macron, these technologies represent opportunities that cannot be missed. In addition, he defends that the sector be properly regulated, but without harm to innovation.

Above all, Macron believes that Europe must take a leading position in this market, so that he does not focus on the United States and China.

Emmanuel Macron about web3

First, Macron exposed what Web3 is for him:

“A requirement and an opportunity not to be missed. France and Europe are leaders of the future generations of the web. France has the assets and talents for that. In a world where technological advances precede economic domination, it is essential to maintain our jobs and our independence.”

The political leader pondered, however, that there are challenges for this. According to him, the acceleration of the technological pace is already a big bottleneck between those who master digital codes, Artificial Intelligence, blockchain etc and those, many, who are excluded.

“We must ensure that technology remains at the service of society and progress,” stressed Macron.

Metaverse and NFTs

When asked what he thinks about the metaverse, Macron reaffirmed that he wants Europe at the center of innovation. This is because, for him, Web3 and the metaverse may represent a new stage of the web as we know it.

“I want to ensure that European players master the technological bricks associated with Web3 and the metaverse so as not to depend on American or Chinese giants. We already have very fertile ground for players, whether in the area of ​​virtual and augmented reality, domain of blockchain technologies…”

Macron’s idea is to build a European metaverse. That is, to produce, promote and dominate the continent’s cultural and creative content.

According to him, the metaverse has immense potential in culture and entertainment. Therefore, Europe cannot leave its cultural policy out of this revolution.

“I would like our main cultural establishments to develop a policy on NFT, for example, through the promotion, dissemination (…). Finally, France through its language, its heritage, its cities and towns, its monuments, must also exist in the metaverse.”

Industry regulation and market presence

Finally, Macron was asked about the possibility of France “missing the bandwagon” of crypto-assets, adopting restrictive regulations.

In response, he said that France is already involved in this market, with major players such as provider of hardware wallets for storing cryptocurrencies, Ledger, and blockchain fantasy football game Sorare.

“We must bring others and attract the best to our territory. I note, moreover, that there is a very strong appetite, especially among the younger generations, for these technologies and the services offered, whose application potential is enormous.”

However, Macron said he does not believe in a self-regulating financial sector. After all, that would not be sustainable or democratic, according to him.

In this sense, he advocates that public authorities define the appropriate frameworks to allow development and promote innovation.

To this end, he believes in a pragmatic approach, which highlights the real benefits and problems of technology:

“I am, in this context, in favor of rapid progress on the MiCA regulation, based on the balanced approach promoted by the Council and inspired by the French framework. France will be very careful that the text does not impede innovation and remains as technologically neutral as possible.”

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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