France’s Financial Regulator Started to Develop Legal Status for ICO

October 8, 2017

France’s Financial Regulator Started to Develop Legal Status for ICO

The President of France’s Financial Regulator, Robert Ophele, said, that existing European legislation regulated ICO ineffectively, it cannot qualify initial token offer in any way.

“ICO does not refer to placement of securities, government financing or mediation, there are certain pressings for these points”, he elucidated.

FFR representatives emphasized the growth potential of the ICO industry, as a result, Regulator had a lot of questions about ICO.  They urged the authorities of France and the EU to take steps to develop a regulatory framework and determine the legal status of the ICO. Firstly, it will protect the country against ignorance. Secondly, it will develop innovations of financial and technological sections.

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