As we reported last week, the massive network of French “Tabacs” shops (Tobacconists) are set to begin selling Bitcoin coupons in store. The French version of the SEC the Autorité des marchés financiers and Banque De France issued a statement last week outlining the intentions of KeplerK, which is a company which had previously acquired approval & has plans to partner with tobacconists in order to sell bitcoin coupons across France.

Now, it seems as if French bureaucracy is even more confusing than that of the USA, as many reports stated that the regulators had tacitly agreed to this plan.

However, the latest statement from French regulators on Monday said otherwise:

“Its distribution by a public limited company, PAYSAFEBIT SASU with a capital of 50000 euros, using the trade name KEPLERK, which does not have any authorization or approval by a French or foreign authority, is not likely to provide any guarantee to the customer base.”



The regulator’s apparent concern is that Paysafebit/KeplerK will not bare liquidity in order to cover exchanges. This makes no sense at all, as currently there are numerous ways in which it can be done in order to ensure that customers receive their BTC. Perhaps the concern lies within the fact that the company doesn’t have much money in the possible event that a customer might want to sue? The statement doesn’t stay instead it simply pertains to the risks of dealing with crypto, all the while not announcing any sort of action against KeplerK or any plans to put an end to their plans.

KeplerK Set To Move Ahead With Plans:

At the time of press, KeplerK’s site did not display any sort of loss of traction to their current plans. They offer a Coinbase-esque app in addition to their in-person exchanges. The process is very basic, users cash into the exchange using Euros or even debit or credit cards at the merchant, they’re then issued a ticket/voucher which they can redeem via the KeplerK app or desktop website with the app being available on both iOS & Android app stores.

Furthermore, the AMF is under the belief that people could have confused KeplerK with another company by the name of Kepler Cheuvreux, who is an independent financial services firm who are fully regulated. Currently, it’s still uncertain what will happen to KeplerK or their plans to retail BTC.

Previously, the AMF had actually blacklisted several crypto investment websites and these moves run in a different direction to the parliamentary moves being made in a country with goals to see France as a potential hub for both cryptocurrencies, ICOs and blockchain.

It seems France’s political and financial landscapes are battling for the fate of cryptocurrency and blockchain adoption. What are your thoughts on this? Let us know by commenting below.

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