France doubles down on crypto surveillance – BeinCrypto

France wants to develop the blockchain in France, but it does not come without crypto monitoring. The police and the gendarmerie are called upon to carry out a constant watch of the sector.

Crypto is hiring… but not in its sector

Three months into the crisis, layoffs are still happening in the crypto sector. However, web3 trades still seem to be popular, despite the crisis. As the influence of blockchain spreads outside of the industry, there is a need for knowledgeable people on the subject. The French police and gendarmerie are no exception.

Indeed, several job offers of this type have recently been published on the site Place de l’emploi public, where the public service makes its recruitments. The police station would seek an engineer capable of performing crypto surveillance. Thus, the French civil service would be aware of the latest advances in technology. The position also takes care of raising awareness of the latter.

As for the police, they are on the way to dedicate part of its activities to blockchain monitoring as well. However, no awareness this time since the day before would be based on the identification of criminal activities and its tracing.

France therefore seems to be working hard on the observation of the blockchain. A decision that could be in direct line with regulations, where transactions will be automatically identified. However, the involvement of the police and the gendarmerie could also be beneficial for users. The latter could indeed ask the authorities for help in the event of crypto scams or hacks.

Meanwhile, a new purge of the sector?

As interest in cryptocurrencies grows in France, the industry may continue to clean up. The gendarmes could have less work than expected since, according to one study from KPMG, the crypto could see a real downturn before the end of the year. The famous auditing firm indeed foresees a drop in investments in projects concerning non-fungible tokens and, even more, in those offering new coins.

The priorities of the sector will not be the same. The crypto could work hard on its infrastructure until the end of the year. Thus, we would witness a real modernization of the blockchain, with the emphasis on quality services and not on speculation. Many projects and tokens could be overtaken by this dynamic and disappear.

Source: KPGM Twitter account

According to KPMG, the next big crypto investments may exclusively relate to the use of blockchain in financial markets. Despite everything, the industry should continue to do well, with unfailing attractiveness despite the crisis. Although investments in 2022 are far from beating the record of the previous year, they remain more numerous than those of 2020 and 2019. The support of the public and investors therefore no longer seems to be proven.

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France doubles down on crypto surveillance – BeinCrypto


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