France Adopts Legislative Framework For Governing ICOs

France takes the lead in setting its own regulations for governing ICOs despite the unified EU legislation call.

Recently, A Brussels-based research organization - Bruegel called for unified EU regulations for the cryptocurrency market, particularly emphasizing on the ICOs and cryptocurrency exchanges.

However, shortly after this call, France moved to pass on its own set of regulations.

The nation's Minister of Economy and Finance, Bruno Le Maire, tweeted September 12, that France has adopted a legislative framework for governing ICOs.

As per the reports, the new regulations are meant to provide guarantee and security to investors. According to the accepted regulations, the financial authorities of the country - Authorité des Marchés Financiers (AMF), would have to approve and issue permits to the companies which have chosen to raise funds through an ICO.

Furthermore, those ventures would likewise need to submit all the details of their offerings to the AMF.

Hence, the potential investors would have the opportunity to perform enough due-diligence on data which is officially on the record.

What do you think of this move of regulating the ICOs by France? Let us know in the comments below!