France to ask EU partners to adopt its cryptocurrency regulation

The certification will be granted by the French market regulator for those who want the idea, along with also issuers, traders, custodians along with also investors will have to pay taxes on profits they make on those securities.

The goal is actually to establish a market in Paris for companies raising capital in This particular way, allowing France to grab a slice of the expanding business while giving the idea some oversight of a niche which some fear could be a target for speculators.

The European Commission has recently launched a feasibility study on how to regulate the cryptocurrency markets, though no legislation is actually expected at least until late 2019 as the mandate of the current administration is actually ending.

On unregulated markets, where no rules apply, investors are left totally unprotected if things go sour.

Under France’s regulatory proposals, authorities could verify who is actually behind a fresh coin’s issuance or a trading platform, along with also check the companies’ business plans along with also anti-money laundering rules.

The specific requirements companies need to abide by to get the regulatory stamp of approval are still to be defined by government decrees.

The certification will give investors basic guarantees against outright fraud, nevertheless will not protect them against losses.