The European Union (EU) appears to have a neutral stance on bitcoin and cryptocurrencies. The region’s parliament has no specific legislation on cryptocurrencies. In addition, digital assets are considered legal among member countries.
For instance, Germany does not impose capital gains tax on bitcoin sales if the cryptocurrency is held for more than a year. In the United Kingdom, the number one cryptocurrency is considered a foreign currency. In Finland, regulations are a bit stricter. Trading exchanges and wallet providers are required by law to register with the Financial Supervisory Authority and meet the department’s provisions.
While other member states figure out how to handle virtual assets, France is already preparing the next generation of its workforce. The country recently made changes to its curriculum. Its high school students will start learning about bitcoin and cryptocurrencies.
As of June 2019, the syllabus of Economics and Social Sciences course includes bitcoin and cryptocurrencies. The digital assets will be covered as teachers educate students on the topic of what are currencies and how are they created. One of the topic’s objectives is to help students learn the functions and forms of money.
This is where bitcoin comes in. The cryptocurrency will help French high school students understand the link between money and trust. In addition, the syllabus mentions how bitcoin will help students understand the relationship between trust and money and how it’s evolving.
While pondering on the changing connection between money and trust, students are expected to answer the following questions:
On top of these questions, students should be able to identify the functions of currency and how they apply to bitcoin. Lastly, students must be able to argue the difference between the euro and bitcoin from the point of view of trust.
Before crypto enthusiasts celebrate, it is important to note that the number one crypto will only be discussed to help achieve the objectives of the course. In short, French high school students will not delve into the inner workings of bitcoin and other cryptocurrencies.
On the contrary, it is very likely that bitcoin will be ostracized. That’s because one of the course’s objectives is to understand the role of central banking in the process of creating money. Without the backing of a central bank, bitcoin may be deemed untrustworthy by students and teachers.
Nevertheless, the fact that high school students are getting exposed to cryptocurrencies is promising. Students who actually do research on the number one crypto and the current monetary system will likely fall into a rabbit hole.
Most of us who appreciate bitcoin and see its potential do so because we did our own research. Only time will tell if French high school students follow the same path.
This article was edited by Sam Bourgi.