the French Markets Authority published the results of two months of the UNICORN program and its public consultation
The AMF, the French Markets authority recently published a first assessment on its UNICORN program and its regulatory intentions on ICOs.
The Unicorn Program
The UNICORN program was launched in October 2017 to invite ICOs issuers to exchange information. In its assessment, the AMF notice that 15 projects contacted them, out of 21 that they have knowledge of in France. Half are projects about blockchain technologies, while the other half are about their application in other industries.
Plans for future regulation
Concluding that most existing laws are not applicable the AMF suggests an optional visa approach : Projects giving enough guarantees to the investors and respecting certain conditions could obtain from the AMF a visa. Otherwise, issuers will have to notify to investors a warning mentioning the risk and the absence of AMF visa.
Moreover, the AMF will pay close attention to money laundering and secondary markets manipulation.
Link ( in French ) http://www.amf-france.org/Publications/Consultations-publiques/Archives?docId=workspace%3A%2F%2FSpacesStore%2Fa9e0ae85-f015-4beb-92d2-ece78819d4da
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