After allowing registration and transfer of unlisted securities
through distributed ledgers in 20171 and drafting legislation for initial coin offerings
(ICOs) earlier this year2, France is contemplating
the introduction of a regulatory framework for crypto-asset
intermediaries that would solidify its leadership in blockchain and
crypto-asset regulation.
The amendment3 would, if adopted, add a new category
of investment services providers to the French Monetary and
Financial Code (MFC), referred to as crypto-asset services
providers, which would be subject to either mandatory or optional
requirements.
I. A draft legislation encompassing a wide range of
crypto-assets and services related therewith
