The French government is ready to pass legislation on initial coin offerings (ICO) to stimulate the development of a new type of fundraising. The normative base was developed by the AMF (French regulator for financial markets) in which ICO is recognized as a legitimate way of investing. Against the background of the skeptical position of the Securities and Exchange Commission (SEC) in the US, the French government has chosen a flexible, non-discriminatory approach. The new regulatory framework for the ICO provides an authorization system for obtaining a license from AMF. According to AMF, ICOs that work without a license will not be banned. Instead, each participant must provide a certain set of guarantees to investors regarding the use of the funds raised. The Ministry is going to hold preliminary consultations with interested parties and associations.
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