France Bitcoin Tests by the Central Bank
France Bitcoin tests have been revealed by the French Central Bank last week.
The Banque de France published a press release on Friday where it talks about its technology tests for use in the management of SEPA Credit Identifiers.
According to the French central bank, one of the key participants in this project is the Caisse des Dépôts et Consignations, and the Paris-based startup called Labo Blockchain.
The project began in July 2016 and culminated in October with the creation of prototypes for creating and managing SEPA Credit Identifiers.
The central bank also explained how meetings were held with stakeholders as the project moved forward, indicating that more details about the project will be revealed in 2017.
France Bitcoin project and more central bank efforts
This is not the first time a central bank test the distributed ledger.
A few months ago, in fact, central banks in Japan, Sweden and Singapore launched similar projects.
Also, earlier this month, the US Federal Reserve published its first major research paper on the ledger you can read here.
Credits: Coindesk.com
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French authority forces Bitcoin exchanges to register
under the authority’s supervision. So all cryptocurrency transactions
that involve exchanges must go through a registered provider, whether we
are talking about a credit institution, payment institution or an
electronic money institution, Coindesk reports.
remind the public that Bitcoin has its hazards. “Risk of fraud and money
laundering and terrorist financing” are just some of the dangers set
forth by the French authority, which also recalled that the European
Banking Authority (EBA) has already issued other public warnings about
digital currencies.
exchanges, the statement doesn’t force the individual users living in
France to adapt to any changes.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
