France is introducing new projects related to ICOs. It should take this step early like Switzerland, Singapore, and Gibraltar. The French government has recently decided to allow companies to initialize projects related to ICOs. For this, companies must have to provide whitepaper, which should be detailed and clear of any ambiguities.
This is the only way through which company will get AMF`s license. AMF will check the transparency and security level related to the opening event. This new decision will prove as French revolution, and it will be beneficial for Europe as well. AMF conducted a research UNICORN on ICOs.
Data was gathered from 82 respondents from all sectors. The purpose of this research was to better understand ICO and tokens so that it will be easy for AMF to prepare guidelines on ICOs. Financial and Monetary Code also shown the country`s interest in ICOs through their articles. The new government also favored cryptocurrencies and proposed rules and regulations to avoid money laundering.
Therefore, France is all set deal with blockchain technology and to gain the competitive edge over underlined technology so that to compete with Switzerland, Malta, and Gibraltar. The new ICO regulations focus on some important points, but it needs to be revised to put light on subjects like AMF visas, processes of PACTE plan, etc.
Furthermore, France should focus on handling the European Union financial regulators. Although France is new to the crypto world, unlike in many countries, it has the capability to gain success faster than those countries. The late start can be beneficial for France concerning better understanding new requirements related to Blockchain`s
transparency and decentralization.
