The French Crypto Miracle Could Fall Apart If Macron Goes Ahead with Snap Elections


French President Emmanuel Macron has thrown his weight behind the global elections movement after the victory of populist Marine Le Pen in the European Union elections.

This is a scenario that Macron just cannot tolerate since he has always believed that France would benefit from a strong, unified Europe. “For the future of our parliamentary system, I have chosen to put the vote back in your hands.”

This is not for the presidency, but for elections to the legislature, where Macron’s party is minority. A nationalist takeover of parliament, on the other hand, may restrict presidential power, which would have an impact on France’s cryptocurrency market.

“If we do not regulate the currency, we open the door to complete deregulation, to a total lack of politics in the correct meaning of the word and, as you might imagine, to traffic which would at that moment be out of control,” Le Pen said in 2022 when questioned about crypto.

They took it a step further in 2016 and demanded a complete prohibition on cryptocurrency. “The National Front would prohibit the usage of cryptocurrencies, such as Bitcoin, in France as part of the implementation of its model of economic patriotism,” Marine Le Pen said.

Nationalist economics is fundamentally opposed to a worldwide market-based currency, however they have moderated their position.

Bitcoin and other cryptocurrencies are practically outlawed in China due to the country’s nationalist economic policies. This restriction remains in effect to this day.

In addition to the obvious policy implications, the victory of nationalists might cause Paris to lose its charm, much like London in 2016.

Eight years ago, London was riding high, having been named the world’s financial capital. Its location at the crossroads of the world’s two largest marketplaces—the United States and Europe—made it the prime location even before New York City.

David Cameron’s conservative administration also promoted cryptocurrency and the emerging financial sector by appealing to its liberal tendencies.

A fresh approach for the new millennium that collapsed with Brexit. After eight years, everyone can agree that the implementation of Brexit was terrible.

The eight years of turmoil will finally end on July 4th, when the Labour Party seems to have won decisively.

The stock market in London is in a state of panic due to the city’s inability to compete on a worldwide scale, and they want to take over a much smaller London. While public services crumble and the tax rate reaches a century-high, Nigel Farage, like a specter from the past, continues to blame immigration for the mayhem he wrought.

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