France is the first country in the European Union to legally regulate the use, creation and circulation of cryptocurrencies.
Present at Paris Blockchain Week, the French Minister of Finance and Trade, Bruno Le Maire announced that he was going to ask Europe to be inspired by France in terms of crypto-currencies: “I will propose to my partners Europeans to create a unified regulatory framework for cryptographic assets inspired by the French experience. Our model is the right one ”he declared, in remarks relayed by Reuters.
Concretely, this model is at the heart of the law adopted last week in parliament, and it proposes to tax crypto-currency exchanges in exchange for state-validated certification and transaction security for issuers and traders who settle in France.
A win-win formula that France is the first to put in place among the largest economies. Its goal: to supervise and regulate a sector where investors are not protected.
For France, it is therefore a question of verifying the origin of a cryptocurrency or an exchange platform, and thus to guarantee its regularity and compliance for investors.
The Financial Markets Authority (AMF) has drawn up a blacklist sites offering “crypto-asset derivatives”. It emits, in parallel, some reminders : “Invest only in what you understand, get a minimum of information about the companies or intermediaries that offer the product to you and keep in mind that there is no high return without high risk. “
In the United States, the SEC (Securities and Exchange Commission) had announced the color in the summer of 2017 with an investigation report: the “tokens” (tokens) that investors participating in ICOs receive in exchange for their contribution are equivalent to securities; so that the fundraising in the context of which they are issued must generally be the subject of a declaration to the authorities.