Finance has announced that the government has accepted an article of the Business Growth

France’s Minister for the Economy and Finance has promulgated that the regime has accepted an article of the Business Magnification and Transformation bill (PACTE) dedicated to Initial Coin Offerings (ICO), according to a tweet posted Wednesday, September 12.

As finance Minister Bruno Le Maire states, the French stock markets regulator Autorité des marchés financiers (AMF) is now empowered to give licenses to companies that want to raise funds via an ICO, with the legislation aiming to avail forfend contributors’ intrigues.
Le Maire additionally hopes that the current licit framework for ICOs in France will “attract investors from all over the world.”
According to the PACTE project published by the National Assembly (lower party of the French parliament), prior to any token issuances, a company must apply for a license from the AMF providing detailed information on the offer and issuer. The quantifications will provide adscititious guarantees for ICOs, which AMF had aforetime considered precarious.
France’s President Emmanuel Macron has historically been bullish on emerging innovative technologies, last year proposing to convert France into a "startup nation." Later in 2018, in line with Macron’s words, Le Maire introduced his PACTE bill, which aims to transform and innovate the French economy, in March verbally expressing France was yare for a “blockchain revolution”.
This year, France has additionally visually perceived vicissitudes in rules circumventing crypto taxation, though in a more stringent direction. As Cointelegraph reported in May, the French Council of State elucidated the specifics of Bitcoin taxation in France to move the tax for Bitcoin trading from a progressive taxation (between 14 and 45 percent) to a fine-tuned taxation of 19 percent.
In terms of the wider European context, as Cointelegraph reported earlier this month, European Parliament members held a meeting with blockchain experts on ICO regulation in early September.
Later Belgian cerebrate tank Bruegel relinquished a report that called for coalesced legislation on cryptocurrencies in the EU and more scrutiny on how they were distributed to investors.