French authorities: blockchain changes the rules of the game

France will contribute to the promotion of blockchain technologies, considering them as a means of countering the monopolies of financial giants, said Finance Minister Bruno Le May at Paris Blockchain Week. Reports about this France 24 .

He noted that France has already prepared legal, fiscal and accounting regulatory frameworks for managing cryptocurrency fundraising as a basis for developing the blockchain economy.

“Blockchain protocols change the rules of the game. Thanks to them, users have the opportunity to create and launch their own networks for money transfer, trading or the provision of services without intermediaries , ”said Le Mayor.

He also noted that he would ask European partners to consider the standards prepared by France for regulating cryptoactive assets. Earlier this year, local authorities developed a roadmap for regulating and financing the blockchain-ecosystem. In addition, last week the French parliament approved new standards for the financial sector, aimed at attracting crypto traders, and also allowed the inclusion of cryptoactive assets in insurance products.

At the same time, the head of the Financial Markets Authority of France, Robert Ofel, noted that Paris will soon allow fundraising in the form of digital asset offers. It will happen after the final implementation of the legal framework for the proposals of coins. Rules for the ICO French lawmakers adopted in September last year.

“We believe that by September we will be ready to issue the first permits ,” said Ofel. He also added that he supports the placement of financial assets on the blockchain in order to facilitate their exchange.

The head of the Financial Markets Authority stressed that blockchain is much faster, less expensive and becoming a comprehensive technology.

Recall, French lawmakers are also considering to impose taxes on ICO-projects.

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