December 22, 2019 by Clementine
While the ICO had lost any form of credibility among the american investors and chinese, it seems to take a turn more favourable in France. Recently, the financial markets Authority (AMF) has granted an approval from a French company to start a project of ICO.
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English-ICO will be the first French company to achieve a ICO following the agreement issued by the AMF. This includes a approval legal and regulatory-based regime of the Law Covenant, which encourages the use of digital assets.
In depth, the startup will have this permission until June 1, 2020, at which time the subscription will be obsolete.
On the other hand, English-ICO will be listed in the records of the AMF and will be able to directly market its products to the French public.
The ICO are still legal in France
At the end of the crisis in the market of digital assets by 2018, with several governments such as China have declared the illegality of raising funds in crypto-currencies for the prevention of frauds to the exit (exit scam), and other destabilization financial.
For its part, France has not gone so far as to prohibit this kind of conduct, however, the French system has a base of technical and legal able to control the different types of proposals related to crypto-currencies.
In this perspective, the company that has the approval will have to comply with the standards specified in the law covenant in the month of April, which provides for a specific regime to the ICO.
Moreover, the policy hexagon aspires to a better exploration of new technologies and encourages economic actors to develop similar projects in spite of the past stormy the ICO.
What do you think of this permission to ICO attributed to French-ICO ? Give your opinion in the comments section.
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Clementine
Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting.