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In France, the ICO will be governed by the law

Thus, the state will become a pioneer in such legislative practice.

06.Jun.18 9:32 PM
By Natalia Mylnikova


In France, the ICO will be governed by the law
The Treasury and the Financial Regulator (AMF) jointly created a bill that will regulate the primary location of the tokens in the state. The management of the organizations stated that this law if adopted, would make France the first country in the world to legislatively establish ICO regulation rules. The developed regulations will help to attract finances and prospective projects.

For the law to be passed, it must pass several instances. The Council of Ministers will present it within the current month, and the Parliament will be sent in early autumn. It is expected that by the end of the year he will begin to work. However, experts believe that before the first quarter of 2019, this should not be expected.

The critical elements of this bill are the protection of information and the fight against money laundering. Besides, those wishing to create an ICO project can be registered with AMF, having obtained an official status. This status will attract more investors, removing the suspicion of fraud from the project.

The draft law took into account many requirements, including those from the owners of ICO.

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