One in five Americans owns crypto while France makes rules for new crypto companies harder

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Last Updated on 6 November 2023 by CryptoTips.eu

The percentage of the US population that owns crypto continues to grow. According to data in 2021, about 15% of Americans owned digital coins. That percentage has since grown to 20%.

In France, meanwhile, the rules for new crypto companies on the market are being tightened. For companies that were already present, they will remain the same.

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Survey

Coinbase is just about the largest US crypto platform. In April 2021, they marked a first high for the price of Bitcoin with their IPO. Thanks to their press, many Americans then got to know Bitcoin, Ethereum and many other coins. Coinbase’s stock has mostly fallen since then, although it has been trading higher since the beginning of this year (much like Bitcoin compared to the last months of 2022).

Coinbase CEO Brian Armstrong ordered a survey of more than 2,000 Americans to see if their knowledge of crypto has grown in the last two years. That indeed turns out to be the case. Back in 2021 about 15% of the American population owned crypto coins of some sort, mostly Bitcoin and Dogecoin in fact. By now, that percentage has risen to 20%.

If that means crypto holdings are up 2.5% every year in the US, everyone there will have crypto by 2050. LOL.

France broadens rules

The classic French banks are not really keen on crypto, because the growing popularity of digital coins means that they are losing their historical position of power. New players on the crypto market in France will therefore have to comply with stricter rules from now on. Existing crypto companies in France may continue to operate under the current rules.

A proposal by Senator Hervé Maurey aimed to impose higher standards on all crypto companies in France, including those already registered. This was met with opposition from the crypto industry and a compromise was eventually reached that removes the option of simple registration for new market entrants, while allowing existing ones to continue working until the EU’s new crypto regulation (MICA) comes into effect .

France’s efforts to brand itself as Europe’s newest crypto hub over the past years has allowed them to entice companies like Binance and Crypto.com to set up offices in the country.

But the introduction of MiCA, which will unify the rules for crypto across the entire European bloc, could pose a challenge.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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