Bitcoin Forum

Robert Ophèle, the new head of France’s stock market regulatory agency, the AMF, presented his goals, which focus on Bitcoin, initial coin offerings (ICOs) regulation, and making Paris more attractive for financial investors leaving London as a consequence of Brexit.


Robert Ophèle detailed his five-year program for the AMF (Authorité des Marchés Financiers), in a recent interview with Challenges.

He noted that the priorities of the AMF program include managing Brexit’s consequences on European markets, enhancing the attractiveness of Paris to the financial world, and better regulating Bitcoin.

The AMF is an independent French entity responsible for safeguarding investments in financial products, maintaining orderly financial markets, and ensuring that investors receive material information.

Ophèle conceded during the Challenges interview that the amounts involved in the cryptocurrency market are now becoming too significant to ignore.

He also recognized that cryptocurrencies fulfill a legitimate need in the financial markets, acknowledging that “behind the creation of money, there is normally a real economic activity.”

In this regard, Ophèle explained:

    "There are various issues behind this. Cryptocurrencies can be very easily the receptacle of all that one wants to avoid: tax evasion, money laundering or the financing of terrorism. But it also meets more legitimate needs for cash transfers in a fast and cost-free way in the world. The financial industry is paying close attention."

https://bitcoinist.com/frances-stock-market-regulator-is-positively-interested-in-bitcoin-and-icos/

Maybe we could expected France will join into crypto business in 2018 after their regulations about cryptocurrency is done.
Most interesting part is; By becoming more Bitcoin-friendly, Paris could more decisively overcome the advantages of its competitors (Frankfurt, Dublin, Luxemburg, London). At least Robert Ophèle as the Chairman of Autorité des Marchés Financiers (AMF) had pointed out their intention to regulate cryptocurrency and ICOs to ensure investor protection. Another acceptance from a big country like France will allows bitcoin trading volume increase and encourage more adopters to invest in bitcoin.

Given that the countries of Europe are ambivalent about the crypto currency, such a position of France will contribute to the inclination of these countries to recognize the crypto currency as a legitimate means of payment. These countries can not really ignore the presence of a crypto currency because of its increased volume of turnover and capitalization and are forced to resolve the issue of the legality of its circulation and take measures to regulate it.

This phase is adjustment and development phase , just the deal between Industries and Banks have to be approved. Once done its on its way to higher and lower high but not lower low. This indicate public contract is emerging in France