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French Financial Authority Approves The Country’s First Initial Coin Offering

Some of the requirements say that the token issuer must be incorporated and registered in France, and must also already have a system in place, that ensures strict compliance to regulations such as anti-money laundering (AML) and terrorist financing.

Earlier this year, France passed the PACTE law, a legal framework that covers business growth and development and also caters to ICOs. It specifies that the AMF in a bid to help the crypto space can approve ICOs. Approvals will however only be for utility tokens and will not be extended to security tokens.

Image Credits: Pixabay

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