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France plans to issuing a position on ICOs

According to the regulator of domestic financial markets, France is rapidly moving towards the formulation of rules regarding token sales, or initial coin offerings.

09.Oct.17 2:31 PM
By Daria Zaytseva


France plans to issuing a position on ICOs
Speaking with the business magazine Challenges last week, Robert Ophele, president of the Autorite des marches financiers (AMF), said his agency was seeking to formalize rules around the blockchain case of use, citing its growing profile in France.

Although it is not clear when the rules would be issued, the clarification would make France the latest country to describe how it plans to regulate projects and startups seeking to raise capital through the token sale model. While countries such as Canada have chosen a more neutral approach, other countries, including China and South Korea, have banned the use of cryptographic tokens in fundraising.

In an interview, Ophele struck a balanced tone when asked about the regulator's views on cryptocurrencies, saying that the use of technology creates both problems and opportunities.

As Ophele said, cryptocurrencies could very easily be the capacity of anything one wanted to avoid: tax evasion, money laundering or terrorist financing, but it also met more legitimate needs for cash transfers in a fast and cost-free way in the world.

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