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Author Topic: Tobacco Shops In France Get Permission To Sell Bitcoins  (Read 2086 times)

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Offline MarvonbitcoinTopic starter

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Tobacco Shops In France Get Permission To Sell Bitcoins
« on: November 22, 2018, 09:41:50 PM »

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French tobacco shops are starting to trade two most liquid cryptocurrencies — bitcoin and ether, from January 1, 2019. Local regulators supported the initiative since the people’s interest in digital money is growing, Europe 1 reports.

At the beginning of the new year, up to 4000 stores will join the crypto industry and install the terminals for purchasing digital currencies. Later, 27,000 enterprises throughout France will also receive the software. Tobacco shops will sell small portions of bitcoin and ether, equal to 50, 100 or 250 euros.

To implement this initiative, the local federation of tobacco shops gained the approval of the country's central bank. However, according to Le Monde, this permission was not mandatory, as the stores will only be intermediaries in the cryptocurrency sales. The KeplerK and Bimedia platforms will perform as the dealers of the digital currencies, and will also provide processing services.

The regulator reportedly signed an agreement with the federation to meet the demands of local residents for cryptocurrency. Moreover, there is a political motive in this step — French authorities are going to raise prices for cigarettes, what may hamper the business of tobacco stores. Earlier, shopkeepers threatened to go out on strike because of high taxes on tobacco. Therefore, the support of the cryptocurrency trading will allow the central bank to improve relations with the local businesses.

Offline Areding

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Re: Tobacco Shops In France Get Permission To Sell Bitcoins
« Reply #1 on: December 29, 2018, 07:34:36 PM »
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