The use of digital currencies in European nations has increased recently. However, the European Union (EU) has shown a neutral stance on digital assets so far. There is no specific legislation on crypto assets in the EU parliament. There are no barriers to using virtual assets among member countries as well, which indicates that these are unofficially legal.

There is also no strict tax policy on cryptocurrencies in the region. For example, Germany does not impose capital gains tax on digital currencies sales if the asset is held for more than a year. The UK considers cryptocurrency as a foreign currency. Cryptocurrency use in Finland is a bit difficult and more supervised because crypto exchanges and wallet providers are required to register with the Financial Supervisory Authority and meet the department’s regulations to operate in the country.

While other member countries are hesitating whether to accept virtual currencies or not, France is preparing the next generation to work with these. The country has recently brought about changes to its national curriculum to make the students familiar with cryptocurrencies.

Amendments in the French curriculum

The French Ministry of National Education made some amendments in June 2019. According to the new curriculum, the syllabus of the Economics and Social Science course will include modules on cryptocurrencies. Topics in those modules will include what different types of currencies are and how they are created. Students will also learn the functions and forms of money as the objectives of a module.

Cryptocurrency comes in right here. French high school students will come to know the link between money and trust. The new syllabus will allow teachers to discuss the role of cryptocurrencies in building trust between trust and money and how the relationship is evolving. As the students begin to learn the link between the two, they will be tested with the following questions to assess their understanding:

  • Can cryptocurrency work as a replacement for the euro?
  • Can you trust in your own currency?
  • Do you think digital currencies as the currency of the future?

These are some of the questions that students will need to answer along with their cryptocurrency learning. They will also be able to identify the functions of money and how they are connected to digital currencies. At the end of the module, the students must be able to tell the differences between the fiat currency and cryptocurrency from the point of view of trust.

The possible impact of the new curriculum

Before being overenthusiastic about crypto in France, it should be kept in mind that the inclusion of digital currency in the curriculum is only for learning purposes. It other words, French students will not need to dig into the deeper aspects of virtual currencies.

There is also a possibility that students will have a negative impression about bitcoin because the course is designed putting more emphasis on the role of a central bank in the process of creating money. As other virtual currencies are not backed by a central bank, these may be considered unreliable by teachers and students.

Despite these controversies, the fact that young people are getting exposed to cryptocurrencies is promising because the latest surveys indicate that most people still have no idea about what these currencies are. When students start researching cryptocurrencies some of them will likely convert into real users of the digital money.

It is difficult to say whether French students will start exploiting cryptocurrencies but there is no offence in hoping such.

Cryptocurrency is gaining momentum in France

France is experiencing a surge in virtual currency adoption. French company Keplerk relaunched in October this year with a mission of expanding the cryptocurrency ecosystem by developing products and services for commercial use. 

A number of other prominent retailers including sportswear manufacturer Decathlon and beauty store Sephora have promised that they will get the necessary logistics to accept cryptocurrency payments very soon.