Around 1920, Ernest Hemingway lived in Paris as a journalist stationed in Europe. The book &#34;A Moveable Feast&#34; precisely captures the author&#39;s daily life during that time.However, the writing of this book took place almost forty years later. In other words, the &#34;live scene&#34; of the feast had long disappeared. Both the author and the readers can only seek that past era in their memories. But whether it&#39;s the author or the readers, these memories have become blurry and distorted through the lens of time.All memories related to Paris blend together into a shared historical memory of the city.In this semi-autobiographical, semi-fictional work, the customs and scenes of the Parisian literary circle in the 1920s gradually unfold. The influential figures of the literary and art world at that time are portrayed vividly with just a few strokes, forever intertwined with the city and the book.And now, 100 years later, Paris is embarking on a brand new feast—the Web3 crypto feast.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/8170b2f70b50440b96363bd8491648fc.png" /><h2 id="header-0">The Ethereum Community Conference (EthCC): A Moveable Crypto Feast</h2>One of the liveliest events in Paris recently is the Ethereum Community Conference (EthCC), held from July 17th to 20th in Paris, France. EthCC is organized by the non-profit organization Ethereum France and has been held in Paris since 2018, aiming to provide more opportunities for communication among startups and investors.At the 2020 conference, Jerome de Tychey, the founder and chairman of Ethereum France, stated, &#34;In the next decade, our goal is to continue revitalizing the industry and establishing meaningful connections within the community. It is also worth emphasizing that we welcome the global French-speaking community to join the Ethereum ecosystem.&#34;This year, EthCC is set to take place from July 17th to 20th, and tickets have been in high demand since last month. The conference has been extended from three days to four days, making it one of the most anticipated events for Ethereum developers and the entire cryptocurrency community after EDCON Montenegro.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/fc421f38ffc5466e9fe6efda9628a640.png" />In Paris, another event worth noting is the DeFi Security Summit, which will be held on July 15th. Following the success of the first DeFi Security Summit held at Stanford, the second edition of the summit will take place in Paris, France.Over the course of two days, attendees will hear from the world’s leading DeFi security researchers, auditors, and hackers on how they are working to stay one step ahead. As a global leading blockchain security company, Beosin will certainly not miss this opportunity to stay updated on the latest industry trends, and our security experts will be on-site to engage with the community.In the past year, we’ve continued to see novel DeFi hacks that have led to billions of dollars of losses. According to Beosin&#39;s semi-annual security report, the losses in the first half of this year alone amounted to a staggering $600 million. Preventing and mitigating these attacks is critical not only for protecting existing users, but for the success and growth of DeFi as a whole.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/38d4e858c2a447fe8b71145f21491b8d.png" /><h2 id="header-1">Will Fashionable Paris Perfectly Blend with the Web3 World?</h2>Vogue Business, in a March report, highlighted how Paris has become the perfect fusion ground for the fashion industry and the Web3 world. Just a few days before the opening of Paris Fashion Week in March, the NFT industry conference, NFT Paris, drew global audiences to discuss the future of fashion. The coexistence of NFT Paris and Paris Fashion Week implies the city&#39;s ability to attract the convergence of Web3 and fashion. Paris has established a unique position in bridging the gap between the luxury fashion realm and the technology industry, providing early interpretations of industry sentiment even during the cryptocurrency bear market.At NFT Paris, venture capital firm A16Z hosted a dinner for industry leaders in luxury brands, NFTs, and investment. Executives from companies such as Balmain, Shopify, Chanel, and Web3 founders like Rtfkt&#39;s Pagotto and Leanne Elliott-Young were in attendance. It is evident that fashion brands, which have increasingly favored virtual art forms in recent years, remained a focal point at the conference. For example, Balmain collaborated with Space Runners to launch the latest Phygital sneaker NFT series, while RTFKT, the crypto-fashion brand owned by Nike, announced a capsule collection in partnership with Ledger, a cryptocurrency hardware wallet manufacturer. This collection includes custom all-white Ledger Nano S Plus and Nano X, both available in virtual form and redeemable for physical products.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b9cf172a33244d3da7eb14e86f239e4a.png" />Paris, with its inherent fashion label, is seamlessly integrating with the Web3 world. The city showcases its leadership position in both the fashion and crypto domains. This fusion brings forth more innovation and inspiration to the fashion industry, positioning Paris as a frontier city where fashion and technology converge.<h2 id="header-2">Web3 crypto institutions &#34;growing&#34; in Paris</h2>After conducting research, Beosin has discovered that Paris is very crypto-friendly and focused on innovation, attracting several leading Web3 companies to establish their headquarters there:1. Ledger Hardware WalletFounded in 2014, Ledger began by manufacturing hardware wallets and introduced product lines such as Ledger Nano. They also launched the Ledger Live app, providing services such as buying, selling, transferring, and lending. In 2021, Ledger raised $385 million in Series C funding, valuing the company at $1.4 billion. In addition, they secured an additional $108 million for their Series C funding this year, with participation from 10T, Cathay Innovation, DCG, and other institutions.2. FlowdeskEstablished in 2020, Flowdesk is registered with the French Financial Markets Authority (AMF) and the Prudential Control and Resolution Authority (ACPR). They primarily offer market-making services to cryptocurrency exchanges and DeFi projects, serving over 85 exchanges. Flowdesk also provides digital asset management, brokerage, and custody services. In 2022, Flowdesk raised $30 million in Series A funding, with participation from Coinbase, Ledger, Eurazeo, Aglaé Ventures, ISAI, Speedinvest, Fabric.vc, and angel investors.3. KaikoFounded in 2014, Kaiko provides market data, portfolio solutions, rates and indices, pricing services, DeFi data, and research on digital assets, covering over 95% of global trading volumes. Their clients and partners include Deutsche Boerse, ICE Global Network, Messari, and Paxos. In 2021, Kaiko raised $24 million in Series A funding, led by Anthemis and Underscore. In June 2022, they raised $53 million in Series B funding, led by Eight Roads, with participation from French venture capital firm Revaia, Alven, Point Nine, Anthemis, and Underscore.4. ACINQEstablished in 2014, ACINQ focuses on Eclair Lightning Network deployment and mobile wallet applications, developing Lightning Network payment APIs for merchants. In 2015, ACINQ started researching the Bitcoin Lightning Network and implemented its own Lightning Network protocol called Eclair, along with a corresponding Lightning Network wallet. In 2019, ACINQ raised $8 million in Series A funding, led by Idinvest Partners, with participation from Serena and Bpifrance, the French state-owned investment bank. ACINQ later launched their second-generation Lightning Network self-custody wallet, Phoenix, to make it easier for users to make payments using the Lightning Network.In addition to the mentioned companies, Paris is also home to Web3 project teams such as Morpho Labs, Aleph.im, Pianity, and ParaSwap.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/35b51784f4d44141ad293ae0f14f4639.png" /><h2 id="header-3">Regulatory Policies and the Future of Paris</h2>A crypto-friendly city can be defined as one that actively creates a legal framework for cryptocurrencies to thrive, while enhancing consumer confidence and reducing fraud risks. While many countries are racing to better adapt to the rapidly evolving decentralized finance world, France has emerged as a frontrunner.In April 2019, the French National Assembly passed a law called PACTE (Action Plan for Business Growth and Transformation) aimed at revitalizing the French economy. The law included a section specifically addressing digital assets, establishing a legal framework for cryptocurrency service providers and initial token offerings. Key highlights of this framework include:1. The French Financial Markets Authority (AMF) exercises regulatory oversight over crypto assets.2. ICO issuers can apply to the AMF for approval to conduct an offering if they meet specific conditions.3. Taxation is imposed on issuers, trading platforms, custodians, and investors of regulated crypto assets for the profits derived from these assets.4. Two types of funds can invest in digital assets: professional crypto asset investment funds and professional private equity investment funds.The more explicit regulatory policies provide a legal basis, which helps foster a thriving crypto asset industry and economic growth in France. The introduction of this regulatory framework demonstrates the French government&#39;s relatively progressive stance towards the blockchain and crypto asset industry.In May of this year, the European Union enacted the Markets in Crypto-assets Regulation (MiCA), which was published in the Official Journal of the European Union (OJEU) on June 9. This will create a unified virtual asset market covering 500 million consumers and 27 EU member states. After an 18-month transitional period, MiCA will officially come into effect on December 30, 2024.MiCA is part of the European Union&#39;s Digital Finance Strategy package and aims to harmonize regulations across EU member states. It introduces unified rules for transparency and disclosure requirements for the issuance and trading access of crypto assets, authorization and supervision of crypto asset service providers and issuers, operational, organizational, and governance rules for asset-referenced tokens, e-money tokens, and other crypto asset service providers, consumer protection rules for crypto assets, measures to prevent market abuse and ensure the integrity of the crypto asset market. In summary, MiCA primarily regulates:1. Various types of crypto assets, including e-money tokens, asset-referenced tokens, and other tokens.2. Various types of crypto asset services and service providers, such as wallet custody services, deposit and withdrawal services, exchange services, asset management services, investment advisory services, etc.As one of the few countries in Europe that had already implemented crypto asset regulations before the introduction of MiCA, France has expressed its commitment to providing a fast-track compliance process for crypto companies registered in France to adhere to the stricter MiCA rules. This includes stricter governance, consumer protection, and financial stability rules. According to MiCA provisions, companies already registered in France will have an additional 18 months to comply with the stricter MiCA rules.While actively promoting the development of virtual asset business, France maintains strict oversight of related activities to ensure consumer and market safety.Recently, the Paris Prosecutor&#39;s Office confirmed that Binance&#39;s French subsidiary is under investigation by local authorities for alleged &#34;illegal&#34; provision of digital asset services and involvement in &#34;serious money laundering activities.&#34; However, Binance&#39;s founder and CEO, Changpeng Zhao (CZ), stated on Twitter, &#34;In France, surprise (no advanced notice) on-site inspections of regulated businesses are the norm, for banks, and now for crypto too.  Binance France cooperated fully. Binance also isn&#39;t the only crypto business inspected. This happened to other well known crypto businesses in Paris too.&#34;It is evident that while the French government supports investment and trading activities in cryptocurrencies, the regulation of the virtual asset market remains stringent.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5bf680bd12d845a18e1208b50d443c0c.png" /><h2 id="header-4">Words in the end</h2>In the countless fictional and non-fictional works about Paris throughout history, &#34;A Moveable Feast&#34; is one of the most famous. The dedication on its title page - &#34;If you are lucky enough to have lived in Paris as a young man, then wherever you go for the rest of your life, it stays with you, for Paris is a moveable feast&#34; - has become a cultural emblem of Paris, widely known and celebrated.Now, as crypto becomes a new &#34;label&#34; for Paris, what kind of transformation and innovation will this city undergo? It remains to be seen.Beosin is a leading global blockchain security company co-founded by several professors from world-renowned universities and there are 40&#43; PhDs in the team. It has offices in Singapore, South Korea, Japan and other 10&#43; countries. With the mission of &#34;Securing Blockchain Ecosystem&#34;, Beosin provides &#34;All-in-one&#34; blockchain security solution covering Smart Contract Audit, Risk Monitoring &amp; Alert, KYT/AML, and Crypto Tracing. Beosin has already provided security for 2000&#43; blockchain companies, audited more than 3000 smart contracts and protected our customers&#39; assets worth of $500 billion.<h2 id="header-5">Contact</h2>If you need any blockchain security services, welcome to contact us:<a href="https://beosin.com/" rel="noopener noreferrer nofollow">Official Website</a> <a href="https://eagleeye.beosin.com/ProjectSearch" rel="noopener noreferrer nofollow">Beosin EagleEye</a> <a href="https://twitter.com/Beosin_com" rel="noopener noreferrer nofollow">Twitter</a> <a href="https://t.me/beosin" rel="noopener noreferrer nofollow">Telegram</a> <a href="https://www.linkedin.com/company/beosin" rel="noopener noreferrer nofollow">Login | InCareer</a>

Paris: A Moveable Feast for Cryptocurrencies

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