France will try to push its EU partners to adopt the same regulatory framework for cryptocurrency, which was introduced and adopted nationwide in France, according to French Minister of the Economy and Finance.

Specifically, French Finance and Economy Minister – Bruno Le Maire is looking to persuade other countries in the EU to accept the new crypto regulation, which was approved by the French parliament last week. The new law aimed to turn France into a safe harbour for crypto issuers and traders. This means cryptocurrency operators will have to apply for an official certification that clarifies who is responsible for a new coin’s issuance or trading platform, while the government tax a part of their income in return. This will help French government to supervise the businesses working with crypto assets easier, while making sure the Anti-Money Laundering (AML) is applied.

“I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience. Our model is the right one,” Le Maire said  

French has been taking steps in order to attract more crypto enthusiasts into the country. On the second week of April 2019, the National Assembly of France approved a law that would improve business development in the region. The law – dubbed “Plan d’action pour la croissance et la transformation des entreprises,” (Pacte) – will enable French insurance firms to invest in crypto assets with no predetermined limits.

Last month, the Federal Assembly – the national legislature of the Swiss Federation – has also passed a new initiative that would help the Federal Council provide better regulations for cryptocurrencies in the country.