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How France ICO VISA System Can Inspire Other Countries

  By David Drake   In October, the French finance minister announced that parliament approved a framework for initial coin offerings (ICOs) that would ease how fintech companies do business in the country. The progressive regulatory provision requires companies that want to launch ICOs submit white papers to French authorities for review. If successful, the companies receive an ICO visa that gives them access to banking and accounting services with ease. The framework, proposed by the French Financial Market Regulators earlier in the year, aims at protecting investors by ensuring that companies disclose economic reasons and how they spend funds after an ICO. Stakeholders will be elated as it is expected that the ICO visa will boost growth in the country’s cryptocurrency industry. ONe Network CEO and founder, John Hoelzer says, “I believe this is a step in the right direction. It seems fairly straightforward and should help foster some ... Read More »

Fidelity Investments Creates Special Crypto Platform, Will Wall Street Companies Follow?

  By David Drake   Fidelity Investments is now offering alternative solutions to clients that are in cryptocurrency trading business. The Wall Street firm has set up a new company dubbed Fidelity Digital Asset Service LLC to serve as both as custodian and trader for family offices, hedge funds, and endowment funds on various exchanges. The primary purpose of this company is to provide an avenue for secure storage of digital assets. Fidelity becomes the first Wall Street company to take this step, with other smaller companies having gone before. For most players in the cryptocurrency space, this move  to target institutional investors will have a positive effect on the cryptocurrency industry. Jori Falkstedt, CEO of Verifer says, “Absolutely positive effect. The more traditional Wall Street companies become involved in the crypto market, the more trustworthy and legitimate crypto companies will also be in the eyes of ordinary people. Also, ... Read More »

How France Could Become the Leading ICO Destination in Europe

  By David Drake   Like many countries in Europe, France is not new to cryptocurrencies. However, its popularity in the cryptocurrency space is getting better and better. This is because the French Parliament has adopted an initial coin offerings framework proposed by the country’s financial market regulator. According to the regulator, the country is positioning itself to become an ICO hub in Europe. This view is shared by Bruno Le Maire, the minister in charge of economy and finance in France. Le Maire has been reported saying that the country is aiming to become the very first key financial center to put in place a legal framework. Such a framework enables companies that initiate initial coin offerings to demonstrate to potential investors how serious they really are. ICO Visa To run ICOs in France, companies will be required to submit an application for a visa. The application will involve ... Read More »

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