France to adopt legal framework for cryptos
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 LesEcho.fr, 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.
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.
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.