Regulatory Series on Cryptocurrencies: Spotlight on France’s crypto-regulation

The French government has passed a bill for financial sector law that included rules intended for aspiring cryptocurrency dealers and investors to establish in France by giving them some authentic recognition, that clarifies the nation’s tax regime on their taxable income.

Thereby, the French government’s new cryptocurrency bill will enable firms who wish to issue new cryptocurrencies or trade existing ones to apply for certification. By giving cryptocurrencies official recognition, France hopes to establish a credible market for blockchain companies, as per CNBC sources.

Le Maire, “French Minister of the Economy and Finance” made his remarks at an event on blockchain technology in Paris “I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience.” “Our model is the right one,” he appended.

He thinks that France will always persuade the European Union to adopt a regulatory framework on cryptocurrencies similar to the one it brought in last week at a national level, becoming the first major country to do so.

Furthermore, France’s financial markets regulator, the Autorité des Marchés Financiers (AMF) highlighted the several unregulated FX, ‎binary options and cryptocurrency brokers representing their offering under several brands earlier in the recent past. The blacklisted firms have been providing professional ‎investment services to domestic clients without proper authorization, which is a criminal offense.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 104 levels (which is highly bullish), hourly USD spot index was at 43 (bullish) while articulating at (05:44 GMT). 

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