France introduces ICO regulations to protect investors
Despite calls for the EU to unify its regulation of cryptocurrencies and blockchain, France has taken the initiative and introduced its own regulations for initial coin offerings (ICOs).
In a tweet yesterday, French Minster of Economy and Finance, Bruno Le Maire, announced the approval of a legislative framework which would require ICOs floated in France to provide safeguards and guarantees to investors.
The new legislation would allow French financial authorities, the AuthoritÃ© des MarchÃ©s Financiers (AMF), to approve and issue permits to companies that want to use ICOs as a method of raising capital.
It would also mean that ICOs would be required to submit detailed information about their offerings to the AMF. This would allow potential investors to undertake full due diligence before investing.
Recently, a Belgian think tank called for the EU to unite in its regulator y approach to blockchain and cryptocurrency. However, the proposal did not seem to gain much traction.
Even so, it hasnât stopped France from flexing its entrepreneurial cryptocurrency muscles.
Itâs been a good week for blockchain and cryptocurrency in France. A couple of days ago, crypto-wallet manufacturer Ledger was selected as EYâs Startup of the Year for the Ile-de-France region
Published September 14, 2018 â" 09:20 UTCSource: Google News France | Netizen 24 France