French tobacco companies are starting to sell Bitcoin despite regulatory uncertainty

Several tobacconists in Paris, France, have started selling Bitcoin (BTC) despite regulatory uncertainty, Reuters reports on Tuesday 8 January.

Reuters has learned that the world's largest cryptocurrency can now be purchased in six tobacco stores throughout Paris. However, in a contradictory relationship, the French magazine Capital said that there are up to 24 stores currently participating in the experiment, supported by Keplerk, a French supplier of cryptocurrency portfolios.

According to Capital, customers can buy Bitcoins for 50, 100 or 250 euros. The tobacconist provides a ticket with an alphanumeric code and a QR code, which can be used to obtain the bitcoins purchased through the Keplerk website. The magazine adds that Keplerk charges a commission of 7% for each payment, of which 1.25 goes to the tobacconist.

Adil Zakhar, co-founder of Keplerk, the French crypto-chain supplier who supported the experiment, told Reuters he plans to extend the project to 6,500 shelters in February.

As reported by Cointelegraph in November 2018, the French Tobacco Federation has obtained permission to market Bitcoin in its stores of the French Supervisory Authority and Prudential Resolution Authority (ACPR), an independent agency operating under the auspices of the Bank central French.

However, the same day that the news was released, the central bank of the country denied the reports, stating that it has not given the green light to any agreement on cryptocurrencies.

In addition, the French securities market regulator (AMF) issued a related statement that reminds the public of the risks associated with the management of cryptocurrencies. In addition, AMF stated that PAYSAFEBIT SASU, the legal entity that supports Keplerk, did not have a license from the French authorities.

However, in its most recent article, Reuters reports that the French government did not impose a prohibition on the sale of Bitcoin in tobacconists.

France continues to show a mixed attitude towards cryptocurrencies: for example, in December, AMF added to the blacklist four websites related to crypts for unauthorized investment offers. On 18 December, the French parliament rejected most of the amendments related to the cryptocurrencies of the financial law of 2019, which should reduce taxes for entrepreneurs and traders.

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