Technology

The French regulator refined its position on cryptocurrencies

The French Monetary Markets Authority (AMF) clarified to the European Fee its position concerning crypto belongings, writes Finance magnets.

Particularly, the French regulator defines cryptocurrencies as "a digital asset primarily based on cryptography and current in a distributed register."

However, AMF believes that it's too early to enter an correct classification of all crypto belongings. On the similar time, the regulator sees the necessity for a transparent distinction between digital belongings that qualify as monetary devices and digital cash.

AMF can also be involved in regards to the unfold of stablecoins, indicating that authorities can ban them if vital.

As well as, the regulator introduced the benefit of preliminary public choices (ICOs) over conventional preliminary public choices (IPOs). On the similar time, AMF emphasised the prevailing dangers related to such financing strategies.

Recall that in December, AMF for the primary time authorized an utility for an ICO.

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