France Lays Legal Basis for ICO

September 17, 2018

The parliament of France has set legal standards for ICO, as reported by the country’s minister of economy Bruno Le Maire in his Twitter account. He said that a full-fledged bill was drafted for initial coin offering which may attract crypto enthusiasts from all corners of the world.

In accordance with the document, to start ICO organization has to get licensed by Autorité des marchés financiers (AMF), the French stock market regulator. Digital coin eminents have to provide necessary data to guarantee that customers have decent security level.

The approved ICO standards are a part of a larger project by the President Emmanuel Macron which is targeted at increasing growth rates and modification of business sector.

Remember that at the beginning of this year Bruno Le Maire claimed to form a developer team to create digital currency regulation system.

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