According to TechFlow, Coindesk reported that the French far-right party National Rally (RN) took the lead in the first round of voting in the French general election on Sunday. The election results may lead to a more polarized French parliament between the left and the right, making domestic policy making, including cryptocurrency policy, uncertain and difficult. Mark Foster, head of EU policy at the Crypto Council for Innovation, said this would limit the president's power on the international and European stage.
France has already made significant progress in the cryptocurrency space, with 74 cryptocurrency companies registered last year and this number is expected to increase to 100. The EU’s Crypto-Asset Market Act (MiCA) will also come into full effect before the end of the year, and France’s current cryptocurrency regulations will provide it with a first-mover advantage in implementing MiCA.