France Announces Regulatory Framework for Initial Coin Offering (ICO)
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Answer France Announces Regulatory Framework for Initial Coin Offering (ICO)
In solidarity with the efforts of the European Union to standardize regulations related to digital currencies and the uses of the blockchain, France announced its initiative to regulate the initial coin offering (ICO) and provided a regulatory framework for this.
The French Economy Minister, Bono Le Maire, announced on his Twitter account the approval of a legislative framework that requires initial coin offering (ICO) projects in France to provide guarantees that protect investors.
The new framework will allow the financial authorities in France to approve the issuance of permits for projects wishing to use the Initial Coin Offering (ICO) as a means of raising their capital and obtaining new financial resources.Read:Will Russia switch to cryptocurrency if SWIFT is cut off?
This will mean that every project that applies for an initial coin offering (ICO) will be required to provide detailed information about the project, and this will allow the contributor to obtain all the required information before investing.
It is worth noting that some reports this week quoted Mario Draghi, President of the European Central Bank, as stating that the ECB has no plans to issue a digital currency for the bank.
Earlier, Belgian Think Tank made a call to the European Union requesting the issuance of a regulatory framework for blockchain technology and cryptocurrencies but the proposal did not appear to have received any attention.Read:Find out when the next (Hard Fork) for Cardano Network!
It seems that this week is a good week for cryptocurrency and blockchain in France, as two days ago, Ledger, a company specialized in manufacturing cryptocurrency wallets, was chosen as the best startup of the year in the Ile-de-France region in north-central France.
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