France Approves Bill Allowing Insurance Companies to Invest in Cryptocurrency
On Thursday, April 11, the National Assembly finally adopted a law aimed at stimulation of the growth of France in the financial sector. According to FXstreet, the adopted bill includes a section that allows local insurance companies to give their customers the opportunity to interact with cryptocurrencies through specialized investment funds. The new position opens up the possibility for citizens who subscribe to life insurance policies in an insurance company to switch from an old low-profit contract to another newer one that offers higher returns without penalty but in the same company. FxStreet also notes there will be no limit to the amount of portfolio that insurance providers can allocate for investment in coins. However, the main goal of France’s new bill is not only to give insurance companies access to investing in cryptocurrency. The bill aims to stimulate a wave of privatization in the French economy. French Finance Minister, Bruno Le Maire also noted that the bill would help the development of the country's economy. Meanwhile, the French crypto community continues to wait for the adoption of the country’s proposed regulations for the emerging industry. We want to remind you: Subscribe to The Coin Shark news in Facebook: