According to an interview on the Paris Blockchain Week Summit, French Minister of Economy and Finance, Bruno Le Maire, has remarked the priority of the country’s government is blockchain development.

As a commitment to France’s young sector, Le Maire publicized the 4.5 billion euros ($5 million) investment plan, including blockchain technologies to compete against the Chinese and American technological giants.

Besides that, the Minister also revealed the new government roadmap with adoption of the PACTE Act passed by the French National Assembly earlier this week. This is characterized as “an unprecedented and attractive legal framework for token issuers and digital asset service providers.”

In 2019 agenda, French government has identified several new areas for the implementation of this new technology in the industrial sectors, innovation funding projects and legal support.

Le Maire not only argued about the risks associated with the use of the crypto taxation system based on the framework specific to the new sector, but also emphasized the necessity of initial coin offerings market by stating: downturn “does not detract from the potential and benefits offered by the new funding method.”

Talking about the central bank digital currencies (CBDCs), the Minister stressed out the unresolved publicly accessible or wholesale CBDCs legal and technical issues on the financial system impact as his belief that “such a project is not mature in the short term.”

On the other hand, he justified the blockchain protocols for using energy-efficient mechanisms development and preventing money laundering risk in cryptocurrencies.

Recently, the head of the National Assembly’s Finance Committee proposed the ban of anonymity-orientedcryptocurrencies such as monero (XMR) and zcash (ZEC), as The Crypto Sight reported.