In response to the FSB consultation on stablecoins, Adan insists on the abandonment of the concept of GSC, the opportunities offered by stablecoins for the crypto ecosystem and the entire financial system, and the need to define a dedicated, adapted and proportionate regulatory framework.
In April 2020, the European Commission launched a major consultation with the "Fintech" industry with a view to reviewing and updating - by the third quarter of 2020 - its strategy on "Digital Finance". Within Fintech, digital assets offer promising prospects for financial innovation.
In the context of a public inquiry by the Competition Authority, the Adan expressed its views on the competitive situation of the digital asset industry. In its response, the Adan describes the blockages to banking institutions that have persisted since the first crypto/blockchain projects in France despite the new regulation of VASP and stresses the danger of such inertia, particularly in the current economic climate. Indeed, Adan underlines the risk of French nuggets being exiled abroad, even though digital assets offer very promising prospects in payments and decentralised finance, which should instead be encouraged.
In this response to the consultation, Adan presents in particular the benefits of blockchain and digital assets to optimise financial infrastructures and the regulatory obstacles that need to be overcome.
The response, entirely in English, includes a guide for a classification of numerical assets, the association's opinion on the interest of creating regulation at European level and financial securities on blockchain and the adaptation of the European regulatory framework for markets and securities.