French regulators, central bank no fans of tobacco retailer Bitcoin plan

French regulators, central bank no fans of tobacco retailer Bitcoin plan

French stock market regulator, the Autorite des Marches Financiers (AMF), the country’s central bank and Prudential Supervision and Resolution Authority (ACPR) have issued a warning about the risks associated with “speculative” crypto assets

The move follows the announcement that, as of January, French tobacco retailers will be offering Bitcoin vouchers in denominations of 50, 100 or 250 euros. This is the result of Keplerk inking a deal with a cash register software provider. The startup will allow customers to convert their vouchers into Bitcoin and store it in wallets on its platform. Around 3,000–4,000 tobacco shops will initially be involved, with more to follow.

“Tobacco shop owners are the best channel as they are trusted by customers and they are used to sell vouchers such as credit for mobile phones,” Adil Zakhar, Keplerk’s Director for Strategy and Development, told Reuters.

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