ICOs now regulated, expect better ICOs, less Scams

[abruchifid]

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?

[iconoclast]

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.

[donass1]

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?

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

[bit..what?]

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.

[Mr.frost]

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.

[Herbert2020]

Is this a good bye to scam ICOs from France?

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.

[abruchifid]

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.

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

[Sharingjoy]

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?

[coinstalker23]

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.

[tomahawk9]

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/

Is this a good bye to scam ICOs from France?

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.

[ambisyon]

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.

[Cryptomilz]

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.

[BitcoinHodler]

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.

[rightway00372018]

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?

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.

[raven.tiu17]

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.

[hddcase2018]

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

[tsaroz]

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.

[Cassidyblaze55]

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

[Chom_]

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

[senin]

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.