Home » French Tobacco Shops to Start Selling Cryptocurrencies from January 1, 2019

French Tobacco Shops to Start Selling Cryptocurrencies from January 1, 2019

Thousands of French tobacco shops will start selling Bitcoin coupons from January 1, 2019 forward, according to Europe1.
news - French Tobacco Shops to Start Selling Cryptocurrencies from January 1, 2019

Thousands of French tobacco shops will start selling Bitcoin coupons from January 1, 2019 forward, according to Europe1.

Under the auspices of the Central Bank, the French Prudential Supervision and Resolution Authority (Autorité de contrôle prudentiel et de résolution – ACPR) has officially authorized the Federation of tobacco shops to sell bitcoin at the start of 2019.

The tobacco shops will act as intermediaries; processing support will be provided by KeplerK and Bimedia. A total  3,000 — 4,000 shops throughout the country will be equipped with software for selling BTC. Buyers will be able to purchase Bitcoins equivalent of 50, 100 and 250 euros.

According to Europe 1, the regulator to take control of cryptocurrency selling due to the growing interest of the population in digital assets. In this way, the authorities also expect to mitigate the consequences of future tobacco price increases and allow entrepreneurs to make money from selling crypto.

‘Authorizing tobacco shop owners is a way of modernizing their profession. It brings us closer to modern times of consumption, and use,’ Phillipe Coy, President of the Confederation of Tobacco shops, told. 

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The Confederation of Tobacco shops (or, Fédération des Buralistes), comprises more than 25,000 points of sales in the French territory. These shops are open 13 hours a day, seven days a week. According to the Federation’s website.

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