A finance bill gives the right for banks in France to offer crypto investments

[okala]

This is a great news now France is the new cryptocurrency heaven and this will give the public access to cryptocurrency from the Bank, the limit of $500k portfolio is a great deal and only few own such portfolio in crypto for now. But despite that this is another great move in the right direction coming from France.

[LeGaulois]

@Kakmakr
Not sure why they currently allow only professional investors and individuals with $500k but that's something that will be extended surely to everybody in the near future. As I said this investment product is the most popular in France. In the country, we invest more money in (~1,700 billion euros ) than our saving accounts (~200 billion €). So why not? The government also collect taxes from this product interests, when they will see all these millions coming, their eyes will be like a wet pussy.

I believed they only allow professional and individuals investors with $500,000 because they need serious and business mind people with good net worth which won't end up abuse the scheme. However, the possibility that they will extended it to everybody in the near future is not sure because we are talking about the governments and institutions here.

An institution such as?
I think the reason is that they have kept in mind the potential volatility that can be very high in the crypto market and that's what keeps them there. Especially since this type of product is highly regulated in the country.

[Pab]

All that Yellow Jackets protest is about more social money
But France GPD is near zero so that kind of high ROI pension funds can bring some more money to  people.Colonialism ended world is very competitive QE is not bringing any money to real economy so may bitcoin save us
If funds  will be able to manage investing well then there is no problem specially now when market is rebounding after bear time

[naufals4]

In France, we're currently in the middle of a finance bill. It's now clear and decided that Banks/Insurers in France will be able to offer investments tied to cryptocurrencies funds. The new framework is ready and waiting for publication.
It won't target individuals (only if you have a $500k portfolio) but professional investors. Better than nothing, at least cryptos hit the banks here, in 2 years everyone will get access to it, who knows? Private equity investment funds (FPCIs) are also concerned

This was not the primary objective of the Pact, but insurers will be able to offer products based on crypto-assets. They will be able to do so through specialized funds", confirms the LREM deputy and budget rapporteur, Joel Giraud. The new framework will be operational after the publication of the implementing decrees

https://www.boursorama.com/actualite-economique/actualites/du-bitcoin-dans-les-contrats-d-assurance-vie-une-possibilite-avec-la-loi-pacte-705eeccdd09f914ad3267c10a6409420


I declare today April 13, 2019, France the new crypto heaven, it's official!

investing in a cryptocurrency with a bank might be a good idea because we don't have to take care of complicated things like the required documents and others, with the bank that will help us as lay people who have little knowledge about cryptocurrency. hope this will be implemented in other country soon.

[pushups44]

Banks have tended to be wary of supporting cryptos because they see them as potential competition, but as the popularity of cryptos grows, they will find ways to profit off of them. Also, I believe what will factor in the legal accommodation of cryptos is nations seeing other nations attract wealth due to crypto-friendly legislation. Similar to the cannabis industry, money has a way of building allies.