The French far-right National League party has taken the lead in the first round of the election, which may make it difficult for the country to formulate cryptocurrency policy
The far-right National Union (RN) party in France has taken the lead in the first round of voting in the French general election on Sunday. The election results could lead to a new French parliament that is more polarized between the left and right, making domestic policymaking, including cryptocurrency policy, uncertain and difficult. Mark Foster, head of European Union policy at the Crypto Council for Innovation, said this would limit the president's power on the international and European stage.
In addition, France has made significant progress in the cryptocurrency space, registering 74 cryptocurrency companies last year, and this number is expected to increase to 100. The European Union's Crypto Asset Market Act (MiCA) will also come into full force before the end of the year, and France's current cryptocurrency regulations will provide a first-mover advantage for its implementation of MiCA.