France to Elaborate Legal Framework for ICO

March 23, 2018

France plans making up statutory limits for fund raising with cryptocurrencies and becoming the world’s ICO center, as the country’s Minister of Finance Bruno Le Maire claimed.

Le Maire's note was published at the French news website Numerama where he wrote, he asked former governor deputy to the country’s Central Bank Jean-Pierre Landau to draft a bill for setting legal framework for cryptocurrencies.

“France has every interest in becoming the first major financial center to propose an ad-hoc legislative framework for companies making an Initial Coin Offering”, Le Maire said.

Finance Minister told, the government will be officially offered in the weeks to come to grant authorities for the local financial regulator AMF so that it can approve ICO companies provided they meet security requirements.

That is how France plans protecting local investors. Le Maire believes, making up official “white list” will help investors when choosing options, while blockchain technology will allow for French start-ups raising necessary funds via ICO.

“Our target is simple: enter into the world of finance of the 21st century by guaranteeing all players the necessary security for their development ... we should not miss out on the blockchain revolution”, he continued.

It is just to remind you that this week finance ministers and central bankers of the G20 countries with France among them discussed the problem of global cryptocurrency regulation. However, no decisions have been taken so far.

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