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Central Bank Does Not Favour French Tobacco Outlets to Sell Bitcoin

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French tobacco shops, where people go to buy lottery tickets and cigarettes, is presumably going to offer bitcoins along with their other services to customers from early next year. 'Europe 1', a privately owned French radio network, reported on November 21 about the deal between the French tobacco federation - the Federation des Buralistes and French Fintech company and cryptocurrency wallet provider KeplerK, following which the tobacco Federation has supposedly believed to have obtained permission to sell Bitcoin in 4000 small outlets across the country from January 2019. Later, the remaining tobacco shops of the state will also be joining this scheme by providing Bitcoin vouchers to their customers.

Customers will be able to purchase Bitcoin vouchers in denominations of 50, 100 and 250 euros which they can exchange for cryptocurrency on opening a wallet on KeplerK's website.
Europe 1 also claimed that the project was approved by French Prudential Supervision and Resolution Authority (ACPR). ACPR is an independent authority which operates under the patronage of France's Central Bank. However, the Bank of France has denied the claims of assent for any such project. They even issued a statement denying any such unfounded unsubstantiated claims to make their point clear.

Tobacco Federation has supposedly believed to have obtained permission to sell Bitcoin in 4000 small outlets across the country from January 2019.

"Contrary to what was asserted this morning without prior verification, no such agreement has been signed with the aim of allowing Bitcoin sales by tobacconists," the AFP quotes the institution as saying, thereby also adding that: "In addition, no such deal is either being envisaged or under discussion."

The country's central bank warned the investors about the potential risks involved in cryptocurrency investments.

The country's "Monsieur Bitcoin" Jean-Pierre Landau has said that the overregulation of this sector would deliver a "three-pronged danger."

The radio network Europe 1 commented that the ACPR is left with no other choice but to approve the sales due to the rate at which cryptocurrency was entering mainstream consumer consciousness.
France has been disseminating varied messages and ideas over the cryptocurrency news which led to the intervention of international efforts over the matters. The country's "Monsieur Bitcoin" Jean-Pierre Landau has said that the overregulation of this sector would deliver a "three-pronged danger."

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