France Shows Red Light to Facebook’s Libra Cryptocurrency
Recently, French financial authorities have shared major concerns about new cryptocurrencies being introduced onto the market. France is planning to block the development of Facebook’s cryptocurrency known as Libra claiming that the token will bring a huge risk to monetary sovereignty in the country and Europe at large.
ARK Becomes France’s First Cryptocurrency SCIC
ARK Ecosystem is now incorporated in France as a cooperative society (SCIC), registered under n° 833 439 300, with a structure matching our open source blockchain organization. It is the first of its kind in the crypto world, and one of the first blockchain projects to incorporate in the European Union.
ARK Might Just Be French for ‘Cryptocurrency’
ARK may have given the world of cryptocurrencies a serious boost by securing a SCIC status. In case you are wondering, SCIC is another phrase for a French cooperative society, or more specifically, “General Interest Co-Operatives.”