Establishment of the Association for the Development of Digital Assets

• Eleven French companies in the digital assets and blockchain industry have come together to form a professional association representing the sector, with the aim of developing the digital assets industry in France and Europe: the Association for the Development of Digital Assets (Adan).
• The association will represent the industry in dealings with government authorities and civil society.

For several years now, digital assets have been booming. Bitcoin and hundreds of other assets are now traded on specialized protocols: cryptocurrencies, “ICO” tokens, stablecoins, representations of real-world assets or financial rights… This new frontier—the realm of digital value—is vast and is giving rise to new sectors and new leaders. 

In France, a specialized industry has developed since 2011 and now covers all activities in the sector: trading platforms, brokers, security hardware, protocols, consulting services, and products. It now comprises more than 50 companies and supports thousands of jobs. With the PACTE law, the country has also established one of the world’s most suitable and innovative legal frameworks for the development of activities related to digital assets. This relative success, however, masks a significant lack of competitiveness compared to industry giants based in the United States and Asia. It is crucial that France and Europe take their rightful place, for both economic and political reasons.

To accelerate the industry’s development, promote it to government authorities and private-sector stakeholders, and foster its growth, the companiesARK Ecosystem,Blockchain Partner,Coinhouse,Coinhouse Custody Services,ConsenSys France,iExec,Kaiko,Ledger,LGO, Nomadic Labs, andWoortonare today joining forces to create Adan. All stakeholders are invited to join the initiative.

The Association’s activities, coordinated by two full-time staff members dedicated to this work, consist of assisting with the practical implementation of the new requirements under the PACTE Act applicable to token issuers and digital asset service providers, promoting solutions already developed by the industry, to advocate for improvements to the existing legal and tax framework, and to propose targeted support measures to public authorities to develop an industry of international scope.

To mark its launch, the Association will soon be hosting its first event on the theme: “Digital Assets: Opportunities for France and Europe.” To express your interest in this event, join the association, or make any other inquiry, please send an email tocontact@adan.eu. 

Simon Polrot, President of the Association, highlights the progress made in France: “In recent years, existing associations have driven initiatives at the highest levels of government, leading to the creation of one of the most well-suited legal frameworks in the world. I commend all those who have contributed to this, and I am very proud to have the opportunity, through ADAN, to professionalize these efforts and intensify them in France, of course, but also at the European level.”

Eric Larchevêque, Executive Chairman of Ledger and Chairman of the Supervisory Board of Coinhouse, states: “Today, the country has taken a first positive step with the PACTE law, and we welcome this. But we need to go further to make France a major player. “A real shift in mindset must take place among institutions and economic actors, and we will be there to foster and support it.”