Sunday, August 18, 2019
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France legalizing crypto companies

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The French authorities have begun licensing companies representing the cryptocurrency industry.

As Reuters clarifies, several crypto companies have brought their activities under the tax and administrative standards in force in French jurisdiction. The regulator in the person of the Financial Markets Authority (FMA) has approved the work of these startups, and now they will be able to start services and serve local businesses and private clients.

The representative of the ministry, Anna Marechal, said that the French authorities are trying to introduce such a regulatory framework that would be as convenient as possible for companies related to the blockchain industry.

Now four startups are negotiating with French regulators to enter the ICO with their tokens. In parallel, several trading platforms are ready to open their offices in this country.

Note that France has become one of the first European countries that have expressed willingness to regulate operations with the digital currency Libra, which Facebook is launching. Paris wants to create a working group on cryptocurrency, which will include representatives of the countries of the “Big Seven” (G7).

This group will face the task of considering all possible options for the legal regulation of transactions with FB tokens and other digital assets in order to ensure the protection of investors.

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