Bitcoin Forum

Here is an except of an article published on coinness. It narrates the French government approval of draft to regulate ICOs

"France Finalizes New ICO Framework to 'Attract Innovators Globally']France's Minister for the Economy and Finance has announced on Twitter that the government has accepted an article of the Business Growth and Transformation bill (PACTE) dedicated to Initial Coin Offerings (ICO).

Bruno Le Maire stated that the French stock markets regulator Autorité des marchés financiers (AMF) is now empowered to give licenses to companies that want to raise funds via an ICO, with the legislation aiming to help protect contributors' interests."

Is this a good bye to scam ICOs from France?

The question is will the new rules concerning ICO's in France result in a cumbersome and expensive bureaucratic process that will kill of the few ICO's coming out of France? Given that they have handed the job to the stock market regulator it is quite likely that will be the result.

I sincerely think that this is a bit of good news for the cryptocurrency industry and investors at large. Investors need all the protection they can get from these bodies. I now hope it will be sustained and not abused by powers that be

Hopefully this step will stop the scam ico.
Other countries will soon follow suit and introduce something like that.
The more i think about it, the better i find the steps.

This idea would be loved by many but the question is how to implement?We cant assure when there is a law all will follow and it is in cyber world many things are possible especially to those who are more knowldgeable with programs and all that techie thing.

in a perfect world this could have been the case but in the real world that we live in this won't happen ever. what we are going to see is that (assuming this news is actually real and not fake like 90% of the news we read on yellow news sites) we will start seeing every scam ICO try to disguise themselves as being from France and being legit and also another wave of identity fraud when they start asking for KYC and steal people's documents and sell them elsewhere.

There are always trade offs, those are my fears too, that we do not kill innovations when complex government bottlenecks are required before you can launch a project, the good part is that we get to see less scams and investors protection of some sorts.Only time will tell how this eventually plays out

Well that's a good news to the crypto investors as they will be protected with those regulations. Then, how about those ICOs that are not originated from France? Is this mandatory to all ICOs to secure certificate from those group?

Ico space is pretty unregulated space on the cryptocurrency. I don't think everyone will submit and have a certificate to that institution. If the ICO isn't from France they are not forced to do that. Different jurisdiction has different answers and regulations about the ICO happening on the own space.

I expect this kind of news from more countries in the near future.

In case anyone wants to read the full news: https://thebitcoinnews.com/france-finalizes-new-ico-framework-to-attract-innovators-globally/

Hopefully, it is. This is big news for the cryptosphere in France, it means that the crypto users and investors in this country won't get to see more and more people trying to create an ICO out of thin air just so they can earn a quick buck. Now that there is a regulatory framework ready, you can expect that the ICO ecosystem will get cleaner so to speak in France, as it will encourage the people behind an ICO (from france or any other country) to actually put some work into a legit project which needs to go through the authorities to finally raise funds.

I think that this has been a good news in the crypto world not only for ICO investors but also for all bounty hunters. Bounty participants and investors could have peace of mind since they know that they are joining to a legitimate ICO that truly cares for them. I hope that this will be experience soon and scam ICO's could be filtered out and should be ban in this forum.

While this is laudable idea and development, I have a problem with bureaucratic processes and bottlenecks imposed by government regulations. Again, I think it will bring some sanity to the space as any ICO emanating from France will have to be genuine for fear of prosecutions by the government.

regulations of ICOs does NOT mean:
- better ICOs
- no scams
- no pump and dump

regulations of ICOs only means
- more restrictions for both ICO makers and ICO investors
- less privacy since the government is now watching
- taxes, possibly even high unreasonable taxes since the government may see the big pumps in some of the tokens and want a bigger profit.
- even different types of scam!

and a lot of other issues.

If crypto currency is regulated by the government this is really a great to many people and with this move i believed investors are coming due to safe investment because the government will help to check and validate better ICO project.

This might get into a trouble situation. We all know that we wanted cryptos to be decentralized coz we dont wang kyc in,the first place, Governments will issue ICO that are secured. They called it security token offerings. It's a little bit tricky but I guess ICO will continue ehat ever it takes.

that's great!...meaning, investors will become huge!...thanks for this!

Scams became a synonym to ICOs. That's why we needed regulations to save the well intended ICOs from the scam ones.
Regulations would bring ICOs under jurisdiction though they may have lesser profit because of taxes, it would be still better than getting nothing.

Wow. This is a good news for the whole cryptocurrency industry and this is a good step to greater heights in this industry. I believe more good news would come into this market

incredible information, hopefully later other countries will emulate, and reduce false ICOs that worsen cryptocurrency image

In France, it has long been stated that they want to streamline the ICO process. Judging by the information, these will be good rules that will identify the ICO team and protect the rights of investors. This is very good information. Such rules can serve as a basis for the development of similar norms by other countries. The process of regulating ICO after this should go faster.

It seems to me that all this is nothing more than just good news, but still there is nothing guaranteed, most importantly, how to improve the situation with scam projects is to take part in projects with verified developers.

I am sure some countries that are not sure of how to handle the crypto regulation issue can learn from France, that they can actually benefit more from it than when they ban it, banning it will only mean they lose such investments to other countries where it is allowed

I frankly would not trust too much of what the "experts" write in the newspapers.
And anyway, in the absence of global regulation, what the individual states do has very little value.
Perhaps, if there is a guarantee of a state, there may be a little more reliability, but in the end this may be a blockage.

Very interesting news, but I think that all investors will have to pass KYC. Positive trend.

It is good news, but scam ICOs is not a main problem for this business. Because now people know which project that is scam or not. One thing to be solved i think is about devs who not develop their project after ICO success.

I do not think it will help much. As in other situations, when control authorities begin to form, the only effect is the multiplication of bureaucracy and complications that prevent working to honest people, while the fraudsters - who are always a step ahead of the bureaucrats - continue to act undisturbed . I do not like it.

I totally agree. In every field, regulations and obligations multiply, driving honest people crazy and putting them at the mercy of bureaucrats, while criminals continue to do what they want.

Can you tell me how much icos that based in France? This will not reduce the scam ico consider about so many icos are coming from outside UE. It will not give any impact and just those developers are interesting to held ico in France will be facing the regulators and complete all of the requirements before their company can go public to raise the funds.

France is still just a relatively small country, it will take one of the superpower countries to have a major effect on the way ICOs are handled. In any case, I think the community is starting to wise up to the truth about scam ICOs, so I imagine they are beginning to find it much more difficult to grab and dash than it was when the practice first began.

It is logical and inevitable that ICOs must be regulated in one way or another. Especially to protect investors on one hand and create a sound foundation for this sort of fundraising on the other. This will sort out the bad apples from the good ones and will pave a better way for the whole crypto currency market going forward. But banning them completely would be a bad thing.

I think this was what was necessary for this cryptospace, although the less the government puts its hand in the cryptos the better, I think the ICOs situation was getting a little out of hand, a lot of scams were driving away potential investors and that impacted us all, you can see that clearly in the ETH price, so I think those regulations can give us a better mass adoption

Put ICO's in regulation I think is the best way to eradicate scam ICO's, but not failed ICO's. At least this move will bring back the trust in ICO's. There is a lot of great ICO's that didn't make the soft cap simply because of these scam ICO's . Great ICO's were dragged down by scam ICO's. Investors are leaving the ICO's to avoid scam.

Well if this true this a great news for every ico and to people who always invest in ICO. However I think many things too will need to be consider too but it's more fun if there's no scam ico in crypto world it will more investor will attract to crypto.

I think that IKO should be regulated, too much scum, too many bad projects, we need some kind of regulators that can screen out at least scammers. It is necessary that people understand that crypto-currencies are safe. Then they will have a desire to interact with it.

This is great, it will help the investors to feel ease when they want to invest, by preventing scam ICO we can have a better reputation for ICO, but this need to implemented globally,if only one country that adopt this,then it won't be too effective,but this is a good start for all of us

I have always wanted ICO to be regulated legally by the government, finally it will be realized and fake ico will disappear from this world.

It is difficult to identify a good ICO project as each ICO project is becoming more professional and can deceive your senses. The best advice is to just invest in ICO projects when the market really enters the uptrend period as this is the time when people make the best profit.

It is good but partially.
They can control ICOs that are fake but they can't control ICOs that fail.
In other words, investors may get into troubles investing in ICOs that fail after their launch. This would make the entire investment become a disaster again.

When that regulation applied in every country, that will be the end of any scam ICO, it will make anyone who tried to make any scam project will have to think twice.
And it could build the trust from people to new ICO.

I hope other countries will follow France in ICOs regulation field soon. It will be a big step into making the crypto world more safer for everyone and will bring back huge amount of investors trust into crypto.

It is not going to make ay difference in the restricting scam ICOs maybe it will resul that fracne can stop their citizen from participating on ICOs which can save them form being scammed but there is no other way to find the scam and legit ICOs the scammers will come up with new ideas and keep scamming the people.

I think standardizing ICO is a good thing, at least it can help ICO promote and promote it, it can effectively reduce ICO scams. However, government departments need to conduct appropriate supervision to avoid corruption, which requires the formulation of relevant laws and regulations.

Who will regulate ICOs. SHould be an independence intitution with independence platform. Jury.online is going to make the platform. Jury.online as the escrow service for host ICO , bounty and investors. The platform now is live. I think ICO that list in jury.online is legit ICO. You can also use bankex bounty. It is also legit site and trusted site to participate in ICO and bounty.

I think this is a good development and we should expect less scam ICO at least from France and Europe.  The bureaucratic process is of concern but the commitment of French Government is a good start!

Well this is a good move by the France government to ensure their people that their hard earned money will not be stolen as scam ICOs are now rampant these days.The good thing for France is that they regulate Crypto and ICOs with less Bitcoin tax policies in which for sure many Frenchmen will still join the investments.

When some country make 100% legal ICOs, there will be many companies that change their address there. When they obligate whole team to deliver their personal data and vouch with their own assets on delivering the project, and not with investors money, we will be in much better position! I wonder is it possible to someone create "clean" ICO where would participate China and US citizens without any restrictions?

Some countries (primarily the US) did work on this issue. Already a legal regulation and supervision is a must. This is a condition for every deposit. I hope it's helpful.

That would be limited to France but tell you what one nation cant do much about it if others dont join it. Lets not forget the most basic rule of the crypto space which is truly "Decentralised" and thus it means it cant be regulated the way they want. ICO may be from different country and thus if anytime that goes scam then the France wont be able to do anything at all as it wont be under their jursidiction and secondly being the decentralised one no one would ever no who was truly behind it. It should be the whole world accepting the same terms of regulating the crypto currencies then only we can see some hopes of not getting scammed at all. Even people scam others with the fiat currency and thats no wonder at all.

the rules against an ico project surely will give a nice impact. may indeed be fewer ico that there will be, but existing ico has a good quality. not like now, we can all see, ico appear almost every day, but unfortunately there is always a scam between them. the existence of rules governing project ico, it would be better for the future of the ico and investors were not too scared to return invest ico.

I see that the ICO still just keep moving. I still frequently find a project that is a scam. before this only had time to get some times project scam. very disappointing and very unfortunate.

its a good thing that other countries are also doing what has to be done to protect investors, i think Singapore had done this already.  
but this might just slow the process though, we've seen SelfPay later doing an ICO but i think there were things to fix in their government which again they postponed. same thing could happen to every ICO later on.

Thank goodness, the investors and bounty hunters as well will going to be merry on this news because the ICO projects will surely be legalize and will be registered on a concern agency i.e governments, or even the here in the forum could actually assemble a committee for the registration and validsting the ICO's. This is really a good news, however i doubt if this is really true. Please update this post and provide the article where you found this news.

In theory, perhaps. In practice, as we have seen in all fields, regulations only serve to drive honest people crazy and keep them from working, while fraudsters continue to operate industurbati.
A central authority is certainly auspicious, but do not expect too much.

Regulations may effects in the upper edge but the downside nothing will be changed and at the same time people will be like to have the non-scam projects only but here there are many fraudsters available to cheat us.

All we can do is keep doing better research to understand what is the project is about, team legitimacy and white paper.

This will clarify you 80 percentage before you go to invest on any ICOs.

If the ICO is disguised, as from France, and they will have some fraudulent or suspicious actions.  In this case, in a short time, many people will learn, and simply will not take, projects from France.  But in this short time, they can deceive many people.  Yes, and KYC is becoming increasingly mandatory, which greatly outraged people working in the field of cryptocurrency.

I hear about ICO and cryptomarket regulations for 2 years and still there are no regulations, only some restrictions in some countries like the USA or China. But! We need regulations and more transparent market to get ETF approval.

Your are right , its a big relief for all of ICO Investors, who love to invest in only ICO and dont like trading :D , many people scammed for unregulated ico.  i am really happy.

That is a good thing. It is a good news because previously the only beneficial for ico is the owner of the ico. And they didn't care for the investors. On this way the fake ico or the scam ico will not be part of the tokensale anymore. Thanks to the approval.

This is really a contradiction. Abuse of ICO will only damage the cryptocurrency market, but ICO's regulation of cryptocurrencies violates the principle. I think the proper regulation of ICO is beneficial. If the ICO in the world is very good, then the price of cryptocurrency must be very expensive, and now the cryptocurrency downturn is closely related to ICO abuse.

whether true or not but if it is realized it will be the one step want for France. investors need the ICO that clean and safe from scam so that they will be safe in making the investment. at least this can be a good solution if it will happen this kind of policy.

This means that ICO projects coming from France will have to move elsewhere. I guess we won't be seeing ICO's coming from France due to this.
This might also impact French people from joining ICO's in the future.

When it's fully implemented, then there will be big chance it will reduce any chance of scam project significantly.
I hope it will also implemented in another country, so there will be no more scam available.

That is what we need in this community, a regulated ICO.
There are so many SCAM ICO before and they continue to grow because they are not well committed.
They just do project and run with the money of investors.
This reduce a big number of investors in this crypto world which is bad to its health.

This should be done everywhere and the projects should be made liable to their work.
Investors should only choose those projects that are being regulated by the local government and the investors should have the right to sue the project for misdeed in local jurisdiction.

I hope all countries will do this, although basically cryptocurrency is decentralized but I think the ICO project is excluded. With the existence of a regulator if something bad happens to the ICO, at least investors are not confused anymore where to complain. Besides being able to reduce scam ICO, I am sure this will also give more trust to investors to participate in the ICO.

Regulation on Initial Coin Offering is a must.
Projects are just coming and they are not regulated, many scam has been done and it give a lot of problem now with investors.
Millions or Billions of dollars now are gone because of scam ICO, i think this one put addition on falling market too.

I hope so, more regulations on ICO will make less scam projects and investors will feel safer to invest in new ICO, this will bring ICO back to us.

Determining the state regulator and issuing a license for ICO activities in any case will play a positive role in reducing fraud in this type of activity. However, more specific information about this is needed. Very good rules have been developed for the regulation of ICO activities in Russia. There, the entire fundraising process is going to be carried out through banks, and the state authorities will control even the targeted use of the funds raised.

Good,this will deal with scam projects running away with investors money but why france alone ? Well it's a step forward maybe other countries will learn and follow same steps

That means if the regulators will have all of the control over the funds. I guess this will be a very interesting thing but at the same time this will become the beginning of the regulation in the cryptocurrency. the taxation has already started in the EU. I expect more countries will come.

This regulation is certainly not bad, but i have read of another solution.
Reverse ico seems to be the solution to the ico problem.
I have read that many times before and i think that will be the future of ico.

This is really what we need, once the icos are now better regulated there are going to be better coins coming into the market, with things like this, there is no way that we are going to keep worrying about scams. Now that there are regulations I think I am going to start investing in the coins again. This is really good news if you as me

If ICO regulation is necessary for the purpose of eliminating those scam ICO's, I would definitely support such implementation as I believe that the people's trust in ICO will resume again. Unlike in the current situation where ICO scams are very rampant and many people are being victimize by these scammers. I hope it will not be only in France but it should have to be global and no exception.