Crypto Could Be The Future Of France According To Recent Survey

With the introduction of MiCA regulations, numerous crypto companies are moving into the country, attracting the interest of numerous young investors. Among Internet users aged 18 to 60 in France, approximately 8% are involved in the crypto space, as indicated by a KuCoin survey conducted in May, involving 500 adults.

Out of these users, 31% have been in the crypto market for less than 6 months, while 23% have been investing in crypto for over 3 years. Notably, 40% of the Gen Z crypto investors in France have entered the space within the last 6 months. Surprisingly, a significant portion of these users, despite earning less than 35,000 Euros annually, have shown an avid interest in crypto investments.

This trend is not just limited to France, as Germany has also experienced a surge in Gen Z crypto investors, with 41% of them entering the digital asset market within the past year, according to a separate KuCoin survey in June. Additionally, 34% of German millennials have made their first crypto investments in the last 3 months.

The younger generation, particularly Gen Z, clearly demonstrates a fearlessness and a strong desire to participate in the crypto market, showcasing an unprecedented level of interest and adaptability. Compared to older investors, this generation shows a preference for quick returns from crypto investments and is more inclined to use digital assets for NFT purchases and payments.

The growing interest in crypto among young investors coincides with companies seeking regulatory approvals in France after the passage of the MiCA regulation in April. This regulation mandates crypto asset service providers to register with national authorities to offer services to EU clients.

Thus far, several crypto companies, such as OKX and CACEIS Bank, have applied for registration in France, with the country positioning itself as a European hub for crypto-related activities. Full MiCA implementation is expected by the end of 2024.