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France Passes Bill to Allow Insurance Providers to Invest in Crypto and Tokens


The National Assembly of France passed a new bill allowing local insurance markets to invest in crypto.

French insurance markets can now invest in cryptocurrencies, following the passage of a new law, foreign exchange news agency FXStreet reports April 11.

On April 11, the National Assembly of France adopted a bill that is designed to stimulate local business development, including redirecting savings from individuals to businesses, according to local news agency Les Echos. According to Reuters, the Assemblee Nationale voted 147 in favor and 50 against.

Known as “Plan d’action pour la croissance et la transformation des entreprises,” (Pacte) the act reportedly allows insurance providers in France to invest in cryptocurrencies such as Bitcoin (BTC) with no limit on the amount of investment.

According FXStreet, a dual provision of the act enables insurers to invest in crypto through specialized…



Read Full Story : Cointelegraph.com News

2019-04-12 21:20:00

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