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.
Bitcoin and other Cryptocurrencies Fulfill a Legitimate Business Need
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/
