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Several tobacconists in Paris, France, have started selling Bitcoin (BTC) for fiat in spite of regulatory uncertainty, according to Reuters on Tuesday, January 8th.
Reuters has learned that the world's largest cryptocurrency can be purchased in six tobacco stores throughout Paris. However, in a contradictory relationship, the French magazine Capital said that there are 24 stores participating in the experiment supported by Keplerk – a supplier of French cryptocurrency portfolio.
According to Capital, customers can buy Bitcoins for sums of 50, 100 or 250 euros. The tobacconist then provides a ticket with an alphanumeric code and a QR code, which can then be used to obtain the bitcoins purchased through the Keplerk website. The magazine adds that Keplerk receives a commission of 7% on each payment, of which 1.25 goes to the tobacconist.
Adil Zakhar, a co-founder of Keplerk, the cryptocurrency provider in France who supported the experiment, told Reuters he plans to extend the project to 6,500 tobacconists by February.
As Cointelegraph reported in November 2018, the French tobacco federation has obtained permission to exchange Bitcoin in its stores from the French Prudential Supervision and Resolution Authority (ACPR), an independent agency operating under the auspices of the French central bank.
However, on the same day that the news exploded, the central bank of the country denied the reports, stating that it had not highlighted any business related to cryptocurrencies.
In addition, the French Stock Market Regulatory Authority (AMF) has issued a related statement that reminds the public of the risks associated with the management of cryptocurrencies. In addition, AMF stated that PAYSAFEBIT SASU – the legal entity behind Keplerk – was not authorized by the French authorities.
Nonetheless, Reuters reports in its most recent article that the French government did not impose a prohibition on the sale of Bitcoin in tobacco stores.
France continues to show a mixed attitude towards cryptocurrencies: for example, in December, the AMF included four encrypted websites on the blacklist for unauthorized investment offers. On December 18, the French parliament rejected most of the amendments related to cryptography to the financial law of 2019, which was supposed to lighten the taxation for entrepreneurs and traders.
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