L’Adan publie son manifeste à l'attention des candidats à la présidentielle Télécharger ⬇️

Newsletter – December 2021

As November starts, ties are growing closer between “non-crypto” fintech and cryptoasset companies. Lydia is partnering with BitPanda to allow its clients to gain exposure to crypto, Artur (CIF) is expanding its business into crypto and soon decentralised finance (DeFi), Qonto is allowing the investment of its clients’ cash in crypto. Even outside of Fintech, there is increased convergence: SoftBank is investing in the Zepeto platform, Adidas in TheSandBox… While others are jumping ship, such as David Marcus (from Facebook’s Diem project) and Jack Dorsey (from Twitter, to focus on his decentralised exchange project with Square?).

Adan is also making the link, notably through our educational actions and our support to those of all stakeholders who wish to know more. In November: through our new article (this month, we demystify NFTs), thanks to Medef and the Centre des Professions Financières to explain the necessary complementarity between stablecoins and central bank digital currencies, to LabexRefi to decipher the new challenges in terms of regulation, or to BFM to explore the new investment frontiers that cryptoassets are drawing.

At the same time, the Association is mobilised on all fronts: domestic, European and international. The various twists and turns around the 2022 Finance Bill involve the sustained and ongoing work of our Accounting-Taxation group. The DASP regime never suffers from inertia, subject to constant reflection. Above all, the French Presidency of the Council of the European Union is making great strides. In January, France will take over from Slovenia as head of the Council of the European Union and will carry an agenda for six months in which many opportunities arise for the cryptoasset sector. In recent months, the Association has been working to put the topic at the heart of the European Digital Finance Plan, as well as the key priorities for the industry. These are fourfold: to establish cryptoassets – and its players – as one of the drivers of the European digital strategy; to ensure a level playing field within cryptoasset markets (wherever players are based); to eliminate and sanction anti-competitive barriers by certain non-crypto economic agents; and to create an appropriate and proportionate regulatory framework, which does not sacrifice protection and innovation. On the regulatory side, while a political agreement has been reached on the pilot regime for DLT markets infrastructures, the trialogue on the MiCA regulation is struggling to get underway. The revision of the European AML/CFT framework, proposed more recently, is still the subject of much debate (particularly since the publication by the FATF of its updated guidelines on virtual asset service providers, which we are currently analysing): Adan has taken a formal position.

To help us fight all these battles, eight new members have joined us and placed their trust in the Association. Thank you and welcome! Will we blow out our second candle around 100 members?

Faustine

Announcement

Swave’s call for projects to incubate its future start-ups

On 15 November, the Swave launched its call for applications for 2021/2022 in order to select the projects it will support next year.

Are you a startup or a project leader in the field of fintech, insurtech, paytech or technologies applied to financial services (Techfins)? Is your company capable of having a real impact on financial services? Send your application!

A next online information session is scheduled for 8 December at 9.30 am (registration).

Apply to Swave

Deadline: Monday 13 December

Publications

Recasting the AML/CFT regime at EU level: Adan responds to the European Commission’s consultation

In July, the European Commission unveiled its plans to reform the EU’s anti-money laundering and combating the financing of terrorism (AML/CFT) framework. The future requirements will affect all digital asset service providers.

In November, Adan responded to the European Commission’s consultation on this legislative package. The Association welcomes the necessary harmonisation of AML/CFT requirements at the European level, and encourages a better consideration of the specificities of the cryptoasset sector activities in the design of this framework. In particular, more proportionality should be introduced so that all actors can put in place an efficient and effective system.

➡️ Read the position paper

Non-fungible tokens (NFT): digital scarcity

This educational article aims to decipher the subject of non-fungible tokens (NFTs). It aims to present the multi-sector revolution orchestrated by the NFT market – a technical concept that exacerbates the digital scarcity at the heart of innovation in the cryptoasset sector – and to explain the underlying technological supports.

➡️ Read the educational article

Conference “The new challenges of financial regulation”

Watch the replay of the conference “The New Challenges of Financial Regulation” in which Hugo Bordet explains the regulatory advances related to cypto-assets

➡️ Watch the conference replay

MEDEF event “LaREFnum21”

Watch the replay of the LaREFnum21 conference in which Faustine Fleuret deciphers the advances relating to digital assets. ➡️ Watch the conference replay

BFM Patrimoine 2021 Summit

Watch the replay of the BFM Patrimoine Summit, where Faustine delineates the new frontiers of investment through digital assets. ➡️ Watch the replay of the summit

Work

The month of November saw an increase in work and institutional meetings, including:

  • [PLF 2022] Following the rejection of the text in the Joint Committee (CMP), the National Assembly is taking up the text again and will decide on the remaining proposals that did not reach consensus. Adan has proposed 4 new amendments in the context of this second reading;
  • [DASP]
    • Adan responded to the AMF’s restricted consultation on staking services;
  • [DeFi] The Adan Legal Committee is currently preparing recommendations on the regulatory treatment of decentralised finance and the need for a broad revision of the traditional regulatory paradigm, which requires not rushing to put in place a framework too early.
  • [NFT] The Adan Legal Committee is currently preparing a legal analysis of NFTs in order to assist policy makers and supervisors in their reflections on the subject.
  • [Pedagogy] Adan is preparing a new article on decentralised finance (DeFi) and an article on the tax framework around cryptoassets.
  • [Crypto Finance Forum 2022] Preparations are underway… See you in July 2022!

Speaking opportunities

During the month of November, Adan took part in several events:

News from members

  • BBDC: El Salvador wants to create the first “Bitcoin City” Read more
  • Bitpanda: Bitpanda’s White Label solution is now available on Lydia and allows it to offer transactions to its users. Read more
  • Chainalysis Inc.: In a new report, we use Chainalysis data to measure how exchange performance differs depending on variables such as business model, technical infrastructure, assets offered, etc. Read more
  • CryptElite: CryptElite is awarded the Label Finance Innovation in the Asset Management category.  
  • Read more
  • iExec: We had the pleasure of collaborating with the researchers of the “Blockchain & Platforms” Chair at Ecole Polytechnique to produce a report in French presenting how zero-knowledge technologies are a solution to the challenges of data confidentiality on the blockchain.
  • Read more
  • Just Mining: Recruiting the former Vice President of Mastercard
  • Read more
  • Kaiko: We become a PSP agent and will soon be offering pro and personal account opening and get registered as a digital asset trading platform (this is the 3rd one).
  • Read more
  • Ledger: Ariel Wengroff’s arrival at Ledger means the creation of new educational content, including Down The Rabbit Hole, which invites exploration and discussion of the crypto world and what Web3 brings to our economy, world and culture.
  • Read more
  • Lyzi: Fidly loyalty program creation app and Easy Wallet cryptocurrency payment app for merchants created by Global pos join forces to create a super app for crypto payments, loyalty, cashback. Upcoming ICO and private sale on Lyzi.io
  • Read more
  • Lafont & Associés: A website dedicated exclusively to the taxation of crypto-currencies is now online. It features news, opinions and thoughts on the subject.
  • Read more
  • Mon Livret C: To build tomorrow’s savings together, Mon Livret C is recruiting its first employees!
  • Read more
  • Nomadic Labs: Nomadic Labs and Caisse des Dépôts join the “Blockchain & B2B Platforms” Chair created by Capgemini, the École Polytechnique and the École Polytechnique Foundation
  • Read more
  • Ownest: Official sponsor of the world’s largest NFT event in November in New York: NFT.NYC 2021. Dubbed the “Crypto Coachella”, it was an opportunity to discover new innovations and to see the non-fungible token meet the general public.
  • Read more
  • Scorechain: Scorechain has launched its new Scorechain Exploration Tool, which allows users to conduct in-depth investigations on wallets and easily check if they are linked to suspicious activities (hack, terrorism…). This tool is available now for all blockchains supported by the solution and is the most advanced on the market in terms of features and interface.
  • Read more
  • Waltio: Anticipate your administrative steps 😌Waltio 2021 is available!
  • Read more
  • We fundia: Eric Menseau revealed to us at the R:ÉVOLUTION event, organised by France FinTech, how We fundia and Re fundia facilitate and make transparent the financing of our supply chains.
  • Read more

New members

Since the beginning of November we have welcomed eleven new members, welcome to them!

C.P.A. SAS: Accounting, consulting and auditing services;

DATACRUNCH SAS: Hedge fund based on a community of scientists;

D&A Partner: Law firm – Innovation law;

Exaion: Provider of sovereign, eco-responsible cloud computing and blockchain solutions;

Hyperweb SAS: Electronic wallet based on crypto underlying (stablecoin);

Lafont & Associés: Business law firm. In tax matters, many clients concerned by cryptocurrencies;

LGO Europe SAS: LGO Europe operates a cryptoasset brokerage that provides retail and institutional investors with a turnkey solution for trading cryptoassets. We offer investors best-in-class execution, data and custody services through its institutional grade open architecture platform;

Revo Avocats: Tax law firm.