French Government to Create Flexible, Safe ICO Framework

France’s stock market regulatory authority, the Autorite des Marches Financiers (AMF), today announced that it intends to create a new regulatory framework with regard to ICOs in the country.

Discover credible partners and premium clients at China’s leading finance event!

The government has been promoting the idea, and with a collaborative effort with the AMF, France hopes to create a flexible set of guidelines through which companies could raise capital through ICOs.

The French government is taking a different stance on ICOs than the many other governments that have cracked down on the fundraising method, with some going as far as issuing a blanket ban.

Moreover, the proposal suggests installing a truly liberal optional authorization scheme, enabling companies to receive a visa for the purpose of launching an ICO.

The visa will confirm that the AMF has approved of the credibility of the operation, thereby providing a greater sense of safety for investors.

However, companies that do not receive (or even request) a visa would still be able to launch their ICOs, albeit without the official credibility given by the French government and regulator.

How Safe is France’s ICO Regulatory Proposal?

France could become the new global center for ICOs, if the government continues to pursue such lenient and flexible conditions for companies and interested investors.

However the proposal begs the question - will the new regulations address the scams and fraudulent activities that have been prevalent in the ICO market over the past few years?

The AMF has just added 15 cryptocurrency investment websites to a blacklist, illustrating its commitment to maintaining a high level of safety for investors, and assuring the public that all ICO operations that will take place in France will be monitored and assessed for proper conduct and legitimate operational agendas.

France More Flexible than Other Countries

South Korea and China are two examples of such countries that have seriously hindered the ability of their citizens to invest in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

Both countries have banned ICOs, with China taking things even further and prohibiting any crypto exchanges from operating in the country, as well as blocking access to all cryptocurrency websites. The country has also begun to inform Crypto Mining Crypto Mining Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Read this Term operations to begin making an “orderly exit” from the country.

The AMF announcement mentions the US government’s actions against ICOs and specifies that France aims to take a different approach.