Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: PRIBO247 on November 26, 2018, 03:35:50 PM
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The central bank of France and its local financial markets
regulator, Autorité des marchés financiers (AMF), are not
particularly fond of the prospect of having thousands of
tobacco stores sell Bitcoin BTC and Ethereum coupons to
citizens.
The government agency has issued a notice to warn citizens
against buying cryptocurrency coupons, reminding them that
cryptocurrencies are often unregulated and, generally, not
well-suited for uninformed investors.
“[In light of recent announcements to offer cryptocurrency
coupons in tobacco stores,] the AMF, the Bank of France, and
the French Prudential Supervision and Resolution Authority
warn that the acts of purchasing, selling, and investing in
Bitcoin are currently carried out outside any regulated market,”
the statement reads.
The AMF also took a moment to remind consumers that –
since cryptocurrencies are digital assets – it makes little
sense to use a coupon to purchase Bitcoin or Ethereum.
“Bitcoin is a type of asset, sometimes referred to as virtual
‘currencies’ or ‘cryptocurrencies,’ which currently exists in the
world,” the AMF further wrote. “It is exchanged online, and is
not directly linked to a physical coin or a bill. It does not
benefit from a legal tender, unlike the currencies issued by
central banks.”
The AMF is correct – and indeed, each coupon will also
include a 7-percent commission as part of the price. Instead of
buying a coupon, anyone can obtain Bitcoin or Ethereum from
a specialized cryptocurrency exchange desk. Yes, you will still
pay a small fee, but it will be much less than 7 percent.
The AMF also had some reservations about the legitimacy of
the company responsible for handling the coupons, KEPLERK.
“[The distribution of the coupons will be handled] by a public
limited company – PAYSAFEBIT SASU with a capital of
€50,000, using the trade name KEPLERK – which does not
have any authorization or approval by a French or foreign
authority, and is not likely to provide any guarantee to the
customer base,” the statement insists.
Bitcoin in tobacco stores
For those out of the loop, last week the French confederation of
tobacconists unveiled plans to offer cryptocurrency coupons in
3,000 to 4,000 tobacco across the country, starting from next
year.
Although initial report suggested the deal was sanctioned by
the Bank of France, the bank later issued a statement to deny
such claims.
With the AMF denouncing the project too, it will be interesting
to see whether the French confederation of tobacconists
reconsiders its plans.
Source : https://thenextweb.com