Samson Mow, the founder of Jan3, is eager to promote Bitcoin adoption among European nations after a fruitful discussion with pro-Bitcoin French MP Sarah Knafo. Mow expressed his enthusiasm on X, envisioning a wave of Bitcoin adoption starting in France and then possibly spreading throughout Europe. The meeting, which took place at BTC Prague, centered around plans for establishing a strategic Bitcoin reserve in France and advocating for “friendly regulations” concerning the asset.
Plans for Further Discussions in France
Knafo extended an invitation to Mow and his team to visit France for further talks. In a post on her X account, Knafo emphasized the importance of protecting these issues. She noted that her conversation with Mow was productive, mentioning the expertise he brings in advising countries like El Salvador on Bitcoin adoption.
Mow previously stepped down from BlockStream in March 2022 to focus on Jan3, aiming to advance Bitcoin’s legitimacy among nation-states.
Knafo also had a meeting with Michael Saylor, a key figure in Bitcoin strategy, describing him as “foresightful and ambitious.”
Growing Bitcoin Initiatives in France
Knafo announced that they would soon unveil numerous projects related to Bitcoin in France and Europe, as the country continues to deepen its engagement with the cryptocurrency sector in both public and private spheres. On June 3, a Paris-based company, Blockchain Group, reported the acquisition of 624 Bitcoin for 60.2 million euros ($68.7 million), raising its total holdings to 1,471 Bitcoin.
Additionally, on March 27, BPIFRANCE, France’s state-owned bank, revealed plans to invest 25 million euros ($27 million) in cryptocurrencies that promote local blockchain initiatives.
Concerns Over European Crypto Adoption
Despite these developments, some executives within the crypto industry have voiced concerns regarding Europe’s slow pace of cryptocurrency adoption compared to other regions. Elizenda Fabrega, a general advisor for a European real-world asset tokenization platform, remarked that recruitment within European companies remains limited. She highlighted that this hesitation stems from deeper regulatory and market disparities, stating that Europe has not yet firmly embraced Bitcoin as a reserve asset.
The EU’s regulatory framework for crypto assets, known as MICA, was proposed in September 2020, adopted in May 2023, and is set to be fully implemented by December 2024.
