French insurance companies will be able to invest in cryptocurrencies

France adopted a law according to which life insurance companies can invest in cryptocurrencies and tokens without restrictions on the amount of investments. Reports about it Trustnodes with reference to the local edition of LeEchos.

The law “On an action plan for the growth and transformation of enterprises” was adopted on Thursday. It says, in particular, that insurers can invest in cryptoactive assets through specialized professional funds. Moreover, insurance companies can provide clients with insurance products based on digital assets.

Also amended article 26b of the Monetary and Financial Code, according to which the assets of specialized funds may be “property subject to registration in the blockchain”.

“With these provisions written in black and white, specialized funds can invest in cryptocurrencies such as Bitcoin ,” said Emilien Bernard-Alzias, a lawyer at Simmons & Simmons LLP.

Thus, the law opens up new opportunities not only for insurance companies, but also for institutional investors in general, including pension funds.

Earlier, BlockchainJournal reported that the French authorities are discussing the possibility of banning trafficking and trading in anonymous cryptocurrency, such as Dash, Monero and Zcash.

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