France has adopted a law according to which life insurance companies can invest in cryptomonedas and tokens without restrictions on the amount of investments. Reports on Trustnodes with reference to the local edition of LeEchos.
The law "On an action plan for the growth and transformation of companies" was adopted on Thursday. He says, in particular, that insurers can invest in cryptographic assets through specialized professional funds. In addition, insurance companies can offer their clients insurance products based on digital assets.
Also Article 26 ter of the Monetary and Financial Code has been modified, according to which the assets of the specialized funds can be "property subject to registration in the blockade chain".
"With these provisions written in black and white, the specialized funds can invest in cryptomonedas like Bitcoin", – note the lawyer of Emilien Bernard-Alzias, Simmons and Simmons LLP.
Thus, the law opens up new opportunities not only for insurance companies, but also for institutional investors in general, including pension funds.
Previously, ForkLog reported that the French authorities are discussing the possibility of prohibiting traffic and trade in anonymous cryptomonedas, such as Dash, Monero and Zcash.
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