The French National Assembly has adopted the PACTE draft Bill (Action Plan for Business Growth and Transformation) at its final reading. The new law establishes a framework for fundraising via the issuance of initial coin offerings (ICOs) and digital assets services providers (DASPs). Once enacted, the law will provide: optional visa regime for ICOs; optional license for DASPs; mandatory registration for two activities (providing digital assets custody services to third parties or purchasing/selling digital assets in exchange for legal tender); possibility for certain funds to invest in digital assets; and investor protection requirements.

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