STO World News

France and a $2 Trillion Crypto Validation

Google+ Pinterest LinkedIn Tumblr

France just vaulted to the front of the globe in validating cryptocurrencies and digital assets. French regulators have passed a law allowing insurance companies to invest in cryptocurrencies (tokens) with no stipulation on how much can be allocated. THAT is a $2 trillion life insurance sector. So France has taken the ‘strings’ off insurers that may wish to take advantage of the new digital asset sector (Bitcoin, etc). The only “catch” is that the insurers have to invest via professionally managed funds. In addition, there will be no limit on the amount that can be invested in the sector. Previously firms were restricted to only 10% of funds being invested in non-securities (that’s the case with many firms in the US as well).  And, this new law most likely applies to ALL institutional investors, including pension funds. This means that “there’s now far greater regulatory clarity in one of the world’s biggest economy and in one of the leading architects of the European Union.”

Source: finteknews.com