The French ministry of finance announced their intention to create a crypto-friendly environment, especially in terms of ICOs by creating an optional regulatory framework. The framework will likely allow ICOs to choose whether or not to apply for a license issued by the AMF. Unlike the SEC which requires draconic measures to be taken by an ICO’s team with enormous legal and bureaucratic expenses, the French ICOs will – upon application – need to follow some guidelines that make them give certain guarantees to investors.
Although France is letting investors decide on their own whether or not a project is worth their money, licensed ICOs will radiate a bigger trust. Non-licensed ICOs will still be allowed to function as usual, but people will prefer the licensed ones since a lack of a license might be indicative of some problems on the project’s end. If the licensing process proves to be quick and painless with reasonable limits, it’s fair to assume that any legit ICO from France will gladly apply for it. After all, people prefer the teams with a rich and high-tech past and judge them on their expertise, the product of the company, and the ideas presented in the whitepaper – a license will only further improve the impression of a good project.
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