Emmanuel Macron on crypto: ”I don’t believe in a self-regulated financial sector”

In a recent interview, the French president emphasized the importance of the digital economy. Nevertheless, Macron expressed his support for the pan-European approach to financial technology regulation. Responding to a sequence of questions about digital economy, Web 3.0 and crypto, the incumbent President declared:

“It represents […] an opportunity not to be missed […] for France and Europe to lead the future generations of the web. But it is also a social and societal challenge.”

Commenting on the recent European Parliament regulations of crypto, Macron said:

“I don't believe in a self-regulated financial sector. This would be neither sustainable nor democratic. It is up to the public authorities to define the right conditions to allow the sector to develop in confidence while encouraging innovation.”

​

What do you think about these statements?