France to allow trading of securities using blockchain technology

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The French Minister of Finance announced earlier this month that a decree according to which France will become the first country in Europe to trade non-listed securities using blockchain technology supporting operations with crypto currency.

The decree, submitted by to the government by the Minister of Finance Bruno Le Moire, should enter into force no later than July this year and will apply to non-listed securities, the trading of which does not require the use of intermediaries under EU legislation, and the potential market value of which is more than 3 trillion euros. Particularly, this applies to shares of mutual and hedge funds, debt securities and non-listed shares and bonds.

He also added that becoming first in Europe to authorise trading via blockchain will increase the business attractiveness of Paris for the fintechs and encourage innovation in France.