French Parliamentarian Jean Michel Mis has endorsed the petition asking the Government to allow national banks to render crypto custodial services. The petition has been moved to urge the French Lawmakers to revisit the crypto law and incorporate necessary amendments. The petition alleges that if the law is not amended accordingly then France will become financially unviable within the next 5 to 10 years.
A petition has been knocking at the doors of the French Parliament seeking immediate incorporation of necessary amendments in crypto laws. The first French Parliamentarian to sign the petition was Jean Michel Mis who is a member of the National Assembly.
It was announced by the lawmaker through a tweet post that he thinks that everyone within the Parliament should endorse the petition. He informed that it is necessary for the French Government to allow national banks to render crypto custodial services. He further suggested that financial stability requires the adoption of Bitcoin at the Banque de France level. In his opinion, if the Government is failed to adopt Bitcoin then in the coming 5 to 10 years France would be financially unstable.
According to Jean Michel, crypto trading should be made legal and supported at the national level.
The petition was invoked on 5th March 2021 by French protagonists and can be endorsed till 5th September 2021.
Several petitions on the same subjects have been received at the Conference of Presidents containing signatures of approximately 100,000 people. However, no action has been taken on them so far. In fact, not any hint has been made public suggesting any possible change in the crypto laws.
It has been alleged in the public petition that the world’s leading companies have invested in Bitcoin. Resultantly, these companies have earned huge sums of money in the form of profits, alleged the petition. The petition also made mention of the names of the companies like Tesla Inc., Square Inc., Grayscale Investments, and Microstrategy.
Further references, such as the Mayor of New York, USA, have also been made in the petition to insist upon the importance of crypto trading.
The petition further suggests that France cannot sit back and relax while others are already into the race. There is a high probability if France does not adopt crypto or Bitcoin then financial disaster will hit the nation soon, alleged petition.
It has been further urged in the petition, that it is the duty of the French lawmakers to introduce public interest laws. It is time to make crypto-friendly laws that would not only help the nation but also bring financial stability, said the petition.
At the end of the petition, the petitioner has prayed that the national bank may be directed immediately to integrate crypto. Thereafter crypto custodial services as well as crypto-trading should be carried out through Baque de France, the petitioner prayed further.