On this Thursday in France, the law “On an action plan to stimulate growth and transformation of enterprises” was passed, which allows insurance companies to invest in cryptocurrencies and tokens.
According to the new law, insurance companies in France will be able to invest in cryptocurrencies and tokens through specialized professional funds. Wherein, there are no limits in investments` size. Bitcoindoubler2x.com has also lesrned that insurance companies will be able to offer their clients products created on the base of cryptocurrencies.
“However, this is not the law`s major goal, now through specialized funds insurance companies can offer their clients new products, created on the base of cryptocurrencies”, – the member of National Assembly Joel Giraud claimed.
Extra Amendments Were Added
To provide insurance companies with such an opportunity, to Insurance code have been added appropriate amendments, that will allow attracting to accounts, insurance related, specialized professional funds. In addition, the necessary amendments have also been made in the Monetary Code, which include assets, created on the basis of distributed registry technology in the list of investment tools.
“New amendments clearly define that specialized professional funds received an opportunity to invest in cryptocurrencies, in Bitcoin or Ethereum, for instance”, – the lawyer of Simmons&Simmons company Emilien Bernard-Alzias claimed.
As soon as the order on the application of the law will be published, the new rules will come into force. This law also covers private equity investment funds. This may mean that changes, in fact, may concern institutional investors.
Trustnodes analysts noted that, in fact, French lawmakers removed the restriction that didn’t allow funds to invest more than 10% of funds in assets other than securities.