Election results in France with no majority won by major political parties may impede the passage of new legislation including encryption regulations

News Flash:
France’s election results have led to a hung parliament, with no major political party securing a majority of seats. This could potentially impact the passage of new legislation, including cryptocurrency regulations. The left-wing alliance, “The New People’s Front,” emerged as the biggest winner with 188 seats, but fell short of the required 289 seats for a majority. President Macron’s centrist alliance secured 161 seats, while Marine Le Pen’s far-right National Rally obtained 141 seats. Mark Foster, the EU Policy Lead at the Crypto Council for Innovation, stated that this will make the formulation of new policies, including cryptocurrency regulations, more challenging.