France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one it brought in last week at a national level, becoming the first major country to do so, French Finance Minister Bruno Le Maire said on Monday.
The French parliament last week approved a financial sector law that included rules aimed at tempting cryptocurrency issuers and traders to set up in France by giving them some official recognition, while ensuring the country can tax their profits.
"I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience," Le Maire said in Paris at an event on blockchain technology. "Our model is the right one."
The French government's new cryptocurrency bill - the first of its kind adopted by a major nation - will allow firms that want to issue new cryptocurrencies or trade existing ones to apply for a certification.
In most of the world, cryptocurrencies are still either totally unregulated or banned.