LGO and other leaders of the French digital asset and blockchain industry have formed a professional association, the Association pour le Développement des Actifs Numériques (ADAN).
The association will represent the industry before public authorities and civil society.
As digital assets boom, a specialized industry has developed to facilitate the exchange of bitcoin and other cryptocurrencies, ICO tokens, stablecoins, and representations of real assets and financial rights across specialized protocols. This burgeoning sector includes exchange platforms, brokers, hardware, protocols, advisors and decentralized applications.
In France, the digital assets and blockchains sector today represents more than 50 companies and thousands of jobs. With the PACTE law, passed in 2019, France has adopted one of the most suitable frameworks in the world for blockchain and digital assets. This relative success, however, masks a great lack of competitiveness compared to the giants of the industry — most of which are located in the United States or Asia. It is crucial that France and Europe work to grow their digital asset sector, not only for economic, but also political, reasons.
To help structure and further develop the industry, and increase awareness within public and private domains, eleven leading French companies have joined forces to create ADAN, the Association for the Development of Digital Assets (Association pour le développement des actifs numériques). The companies are: ARK Ecosystem, Blockchain Partner, Coinhouse, Coinhouse Custody Services, ConsenSys France, iExec, Kaiko, Ledger, LGO, Nomadic Labs and Woorton. Other players in the marketplace are encouraged and invited to join the initiative.
ADAN’s work will include:
- helping to put into practice the supervision of digital assets service providers under the PACTE law,
- raising awareness of existing industry solutions,
- pushing for improvements to the existing legal and tax systems, and
- bringing to the attention of public authorities targeted support measures to develop an industry of international scope.
Hugo Renaudin, Co-Founder and CEO of LGO:
We are very proud to be part of the 11 founding companies of ADAN. The clients of LGO come from everywhere around the world, but we have chosen to be incorporated in France and work with French regulators because we see the potential of Europe to become a leader in the digital asset space. ADAN will likely play a key role in developing our industry with key French and European stakeholders.
Simon Polrot, President of ADAN, highlights the progress made in France:
In the last few years, existing associations have given impetus to initiatives at the highest levels of government, which have enabled the creation of one the most suitable legal frameworks in the world. I salute all the players who have contributed to this framework, and I am very proud to have the opportunity, with ADAN, to professionalize these efforts and intensify them in France, of course, but also at the European level.
LGO is the leading Bitcoin spot exchange for institutions. Live since April 2019, they are trusted by over 40 institutional counterparties across 15 countries. With a boutique approach they provide a suite of fully customizable services, best in class technology, and deep liquidity. Please contact us at: https://lgo.group