Türkçe
Español
In France, the recent general elections led to a balanced parliament, complicating the process of passing new laws. The New People’s Front, consisting of left-wing parties, won 188 seats but fell short of the 289 needed for a majority. This situation created an uncertain political landscape in France, with President Emmanuel Macron’s Ensemble coalition securing 161 seats and Marine Le Pen’s far-right National Rally obtaining 141 seats.
Challenges in Formulating New Policies
The results of the balanced parliament will be profound and far-reaching. Without a clear majority, the process of passing new laws will be more contentious. Mark Foster, the EU policy leader at the Crypto Council for Innovation, highlighted the potential challenges in formulating new policies, especially those related to cryptocurrency regulations. The new parliament’s composition, with significant far-left and far-right groups, creates a challenging environment for policy development.
President Macron now faces the task of selecting a new prime minister to replace Gabriel Attal, who announced his resignation from the Renaissance party. The new prime minister will play a crucial role in managing the legislative process in the balanced parliament. Strategic cooperation among politicians from various parties, including Macron’s Renaissance party, indicates an effort to prevent vote splitting and maintain political stability.
Progress in Cryptocurrency Regulations
Despite political uncertainty, France has made significant progress in cryptocurrency regulation. Last year, 74 crypto companies were registered in the country, and this number is expected to reach 100. Regulators have been highly active in attracting crypto businesses and implementing the European Union’s comprehensive cryptocurrency legislation, the Markets in Crypto-Assets (MiCA) rules. The application of these rules to stablecoins began at the end of June, and the rest of the cryptocurrency regulations will be enforced by the end of the year.
The outcome of the general elections in France led to a balanced parliament, making the legislative process more complex and uncertain. The New People’s Front’s failure to achieve a majority, combined with the significant presence of far-left and far-right parties, creates challenges in policy-making, particularly in the area of cryptocurrency regulation.
President Macron‘s selection of a new prime minister and strategic cooperation among different political parties will be crucial to navigating this uncertain political environment and ensuring continued progress in regulation development.
