France is trying to urge EU countries to release digital asset regulations. This was announced by the French Finance Minister at an event regarding blockchain technology.
The parliament of France had recently approved a financial bill that concerned some portions of the cryptocurrency market. The country is illustrating its will to attract crypto asset investors by being the first large country to employ such regulations. These will ensure that the country won’t be scammed and that the investors with pay taxes.
“I will suggest to my European partners that a single regulatory framework should be set up on digital assets,” the minister said at the blockchain event.
The newly approved digital asset bill gives the government room to know who operates a trading platform or issues coins and check whether companies comply with anti-money laundering laws. It will also enable firms, that aspire to make cryptocurrencies and trade existing ones, to request certification.
The European Commission has not long ago launched a study on cryptocurrency market regulations, however, no bill is anticipated to pass until the end of this year.
Other reports about the regulatory bill say that it will cover investors against scams, but they won’t be repaid in case of loss.