In an opinion piece for CoinDesk, Ken Timsit, managing director of blockchain company Cronos Labs, wrote that French President Emmanuel Macron’s efforts to make his country a leader in Web3 are paying off, with major companies including Circle, Crypto.com, and Binance, the largest crypto exchange in the world, selecting Paris as their European headquarters. France has hosted industry-leading events such as NFT Paris, Paris Blockchain Week, and EthCC, while Macron has also implemented policies like tax cuts for crypto profits.