French ‘Tabac’ Start Selling Bitcoin To Clients

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The Paris Tabac network will now not only sell cigarettes, cigars and lottery tickets, but also Bitcoin (BTC). The initiative is being carried out by the French company Keplerk that is now allowing users to purchase Bitcoin in six tobacco shops in Paris. The information was released by Reuters a few days ago.

French Tabac Sell Bitcoin

Bitcoin is expanding in the streets of Paris where tobacco shops will be selling the most popular digital asset in the market. The intention is to have 6,500 Tabacs selling BTC by the end of February 2019. This will help people that do not have contact with crypto exchanges to purchase Bitcoin in an easy way.

Adil Zakhar, one of the co-founders of Keplerk commented:

“Some people find it complicated to get Bitcoins online. They trust their local tobacco shop owner more than they would trust some remote anonymous website.”

In order to sell the Bitcoins, a local cash-register software provider worked with Keplerk. In this way, Tabac owners are able to sell vouchers redeemable for BTC in an electronic wallet. Tobacco shops in the country have also diversified the things they sell to keep being profitable. Some of the new things they sell include prepaid credit cards, cellphone credits and money transfer services.

One of the first Bitcoin buyers in these tobacco shops, Cyril Azria, said that he will be using Bitcoin to purchase goods on the internet and to speculate.

Bitcoin has been growing all over the world as a means of payment and as a digital currency. Indeed, in 2017, its price went from under $1,000 up to $20,000 at the end of December 2017. In 2018, the market experienced a bear trend that dragged Bitcoin’s price down to $3,200. At the time of writing this article, each Bitcoin can be purchased for $3,818.

The European Union (EU) does not currently have a specific regulation for digital assets. Indeed, each of the countries is currently developing its own regulatory framework. As we wrote a few days ago, the European Banking Authority (EBA) recommended the European Commission to take a steady approach to regulate digital currencies.

Countries in the EU are already implementing different policies to control and regulate the crypto market. Malta, for example, was able to attract a large number of companies from the crypto and blockchain industries. Other countries around the world are also trying to regulate virtual currencies.

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