A truly historic event took place in France: the financial regulator Autorité des Marchés Financiers (AMF) officially approved the ICO. From now on, in order to fully legalize fundraising, ICOs must be registered with AMF.
The fact is that Law No. 2019-486, registered on May 22, 2019, came into force on the territory of the state. This document states that issuers have the opportunity to get approval for trading digital coins from AMF.
The French-ICO blockchain startup was the first to receive official approval from the French regulator. The official website of the company says that the public offering of coins will begin on March 1, and last till June 1, 2020
Here are criteria to apply to AMF:
- the company must be registered in France as a legal entity;
- The “white paper” should comply with the rules of the regulator.
“It issues approval to ICOs, not their issuers. The information document approved by the AMF concerns only one ICO over a period that may not exceed six months and is valid only for the period of the offering described in the information document.” – said in the AMF.
AMF is confident that such an initiative will help attract serious players to the French market.