It has been keeping busy regulating cryptocurrency operations. In February, it banned cryptocurrency derivatives advertising and distribution. The AMF says that all brokerage firms promoting cryptocurrency derivatives must comply with a set of regulations and implement ethical policies and protocols before seeking approval.
In April, France reduced tax rates on revenues generated by cryptocurrency transactions as well as the high-band rate from 45% to 19%. The measure came after French courts issued a ruling defining cryptocurrencies as “moveable property.”
In March, France Finance Minister Bruno Le Maire said that, “Although we are benevolent about the potential and opportunities of the blockchain, we are also cautious.” He also announced that the AMF would present legislative framework to allow companies launching an Initial Coin Offering (ICO) to “demonstrate their seriousness to investors.”