I spend the first 21 years of my life there, left to further my education in business and to pursue professional opportunities. I never regretted, or even doubted, that it was a good long term move until I saw this!
Jokes aside, it is good to see the change of tone regarding finance and economic opportunity overall. Clearly there is strong interest from the government to be part of the digital revolution. Lots of engineers coming out of French schools who need jobs! And... the blockchain industry needs the talent! Good match.
More from the French prime minister -
“Finance is not our enemy, it is one of the assets of our economy!” The minister says before confirming the most radical and innovative regulatory proposal to date. Here is a rough translation:
“The blockchain will offer new opportunities to our startups, for example with the Initial Coin Offerings (ICO) that will allow them to raise funds through “tokens”, cryptoassets.
Clarifying the law to attract innovation, identify risks without hindering our ecosystem, that’s our approach."
It promises to create a network of trust without intermediaries, to offer increased traceability of transactions and, overall, to make the economy more efficient…
France is to set up a voluntary regulatory framework for ICOs as we recently revealed. France is bidding to become the most friendly jurisdiction for ICOs as their Ministry of Finance prepares to rush legislation that will create a voluntary regulatory framework according to local media.
The French finance minister has now confirmed the above info, and has used the podium of G20 to in effect wave the crypto flag.
Letme know your thoughts and if you have more info on the topic.
Lio
Source:
https://www.trustnodes.com/2018/03/16/paris-embraces-icos-incredible-uturn
Image credit:
https://www.lexpress.fr/actualite/politique/elections/lr-investit-un-candidat-face-a-bruno-le-maire-dans-l-eure_1909842.html
@liotap. Important most and good to see France taking the lead. France's efforts to set up a voluntary regulatory framework for ICOs is hopefully just the first and other nations need to be more proactive. Each country that takes such action should further legitimize crypto and thus enhance value.
It appears that while other countries like France are working to let crypto thrive, the US and the SEC will be more aggressive given the influence Wall Street has on them and that Wall Street does not control crypto.
i think countries with unemployment rates that are high for young people are forced to consider putting in place friendlier regulation frameworks to attract capital and retain talent.
Interesting point. Also, many of those countries have not been co-opted by the multinational financial institutions or they have less influence.
@liotap, did you see that Macron has a photo of him brandishing a Ledger Blue bitcoin hardware wallet?
Governments come and go, and remember that at the end of the day France is at the mercy of the EU, so if the EU decides to take action against cryptos, France will have to, but on the other hand, if the EU turns friendly towards crypto, everyone will be rushing to move to Europe in general and if you got there before hand you will have an advantage :-D
Moving from one country to another shouldn't be taken lightly!
Exactly this. It looks very promising for the moment, though. For someone with some freedom of movement, it would be an alright bet to move there and if anything goes bad just leave for Thailand or Ecuador.
Right, good point. France may be at the mercy of the EU but it's worth considering that France has a strong voice in the EU. Given the overall economic situation the EU is in, it is not too far of a stretch to see them welcome a new industry by doing what they do well: put in place a regulatory framework.
France, and the EU more generally, has skilled young people to fill in the jobs and a modern infrastructure already built. Plug and play for job creation.
I think ICO regulations are a good thing. Without any regulations 90% of them will be failures regardless of whether or not they are scams, cash grabs or legitimate projects. Verified projects mean nothing. Almost always, the ICO's first priority is to make the team rich, their second priority is to find a "utility" as a pre-text for their first priority...
I've seen some pretty good projects that had a very nice team and follow-up right from the start. I wouldn't say that they're the majority of the cases, but I still have some hope for the tendency to be toward advancement rather than unjustified enrichment.
Also, I didn't know you could use bots to upvote comments! Is @gentlebot one of the bots on Steembottracker?
I definately think most of the ICO’s will not exist in the next few years. Yes, there are many great ICO’s with great future. Regulations will only help investors in my opinion. Once there are regulations, the amount of ICO’s will drop. Only real projects will survive.
I didn’t use this bot, I think he votes randomly. I’m thankful though.
@liotap
Frankly the best step taken by France. France will become one of the strongest economic countries that have traded digital currency in the rest of the world. Because it will be among the first beneficiaries
OK!
It seems very interesting and smart this new approach that the French government (and maybe the European Union) wants to have towards the blockchain and the icos.
These regulations will be very good, especially when statistics show that most ICOS are scams, this prevents people from investing in projects that could have a bright future for fear of losing their money. If the Government gives the necessary guarantees to investors, the market cap of cryptocurrencies and innovation will grow exponentially.
I didn't know about this, its a good news for crypto and I would definitely consider emigrating to France once I graduate as an engineer.
The idea of licensed ICOs is something to consider, more trust means more investors and so those ICOs can grow faster and take us to the future. I hope that the guidelines to make a licensed ICO end up being reasonable and no very complicated.
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https://www.trustnodes.com/2018/03/20/france-become-actors-crypto-revolution-embrace-icos-says-french-finance-minister
Wow... very great post and good information sir@liotap...Thanks for sharing
Wow ......Really it's very good job boss@liotap.....Thanks for sharing....
wonderful post
thanks for sharing