France will soon adopt new virtual currency regulations

According to Bitcoinmagazine, French financial regulator Autorite des march (AMF) will approve the first batch of virtual currency companies through a new set of digital currency regulations later in July 2019. In order to obtain regulatory approval, virtual currency companies must act in accordance with capital requirements and consumer protection standards and pay taxes in France. Anne Marechal, executive director of AMF's legal affairs, told Reuters that the regulator is currently negotiating with three to four companies on initial public offerings (ICOs), as well as virtual currency exchanges, custodians and fund managers.