French insurance companies will be able to invest in cryptourers


France has passed a law according to which life insurance companies can invest in currency and coin codes without restrictions on the volume of investments. He reports on Trust's nodes according to LeEchos Local Edition.

The Action Plan for Growth and Transformation Act was adopted on Thursday. It stresses in particular that insurers may invest in cryptoactive assets through specialized professional funds. In addition, insurance companies can provide customers with digital assets based on insurance products.

Also Article 26b of the Monetary and Financial Code was amended, according to which funds of specialized funds can be "property that is subject to registration in a block".

"With these provisions written in black and white, specialized funds may invest in a currency crypt such as Bitcoin"– notes Emilien Bernard-Alzias, lawyer from Simmons & 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 were discussing the possibility of banning human trafficking and trading with anonymous cryptic currencies, such as Dash, Monero and Zcash.

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