France to adopt legal framework for cryptos

September 24, 2018
Chris Wheal

France is to lay down a legal framework for cryptocurrency as the government aims for the country to become a leading player in the global digital asset industry.

According to a report from French news agency, three MPs from La République En Marche (LREM), President Emmanuel Macron’s party, have tabled proposals that will be debated by the French parliament later this month.

Regulatory approval

LREM MPs Eric Bothorel, Valeria Faure-Muntian and Christine Hennion want all digital asset providers to have the option of receiving approval from French stock exchange regulator Autorité des Marchés Financiers (AMF).

While the regulatory approval would be optional, the MPs hope that the license would give players in the crypto market credibility.

digital asset providers

French MPs are proposing that all digital asset providers should have the option of receiving approval from the French stock exchange regulator

France warms to cryptos

France appears to have been warming to the digital asset industry over recent months.

In July, a report from government official Jean-Pierre Landau warned against overregulating cryptocurrencies.

This month, as AMF was granted powers to offer licenses to those promoting Initial Coin Offerings (ICO), French Finance Minister Bruno Le Maire said he wanted France to attract global investment in digital assets.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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