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French Life Insurance Contracts Now Include Bitcoin

A lot of us in the crypto community is always wondering when mainstream adoption will finally be attained. Some people will look to Japan or America in the hopes that it will get sparked but in reality, France is where you need to keep an eye on. French insurance companies can soon include cryptocurrencies in life insurance contracts, thanks to a vote by France’s National Assembly.

Deputies overhauled the Insurance Code through the Pact Act, with Article 21 opening a door for life insurance contracts to invest in specialised professional funds (SPFs), whose investment parameters have been allegedly relaxed as a result of yet another provision. Article 26 gives the SPFs the ability to invest in blockchain-backed assets. Simmons & Simmons Attorney Emilien Bernard-Alzias spoke to a local publication saying:

“With these two provisions, it is written in black and white that SPFs can invest in cryptocurrencies like bitcoin.”

Crypto life insurance policies don’t have a cap either…

Read Full Story : Crypto Daily™

2019-04-15 13:30:00

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