The French Financial Markets Authority “AMF” published an announcement on Thursday that approved the first ICO in the country.

The French Financial Market Authority “AMF” has given a visa and the green light to the first “ICO” behind which is a cryptocurrency fundraising platform called “French-ICO”.

Where it provided the minimum guarantees required by law, including project documents and white paper, which investors can view to understand the project, in accordance with to show issued by the organizer.

ICO visas are a means of securing sales and access to financing, and they also carry risks for investors.

Applicants to the French Financial Markets Authority (AMF) must show that they have provided all relevant information about the sale, as well as show the risks involved.

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The regulator can only approve public offers of tokens of a service nature, and the applicant must be a registered entity in France.

The applicant company must also have procedures in place to secure investor funds and comply with strict anti-money laundering requirements.

Once approved, the ICO must be offered within six months of the approval date, and the process must include a secured bank account, as well as the option to host a token sale in the country using an ICO visa.

France passed and defined comprehensive legal frameworks for cryptocurrencies earlier this year known as the PACTE law, which provides companies with legal certainty.

AMF approval allows the company to market the ICO and participate in promotional activities.

The registration process is optional, as French companies can host an ICO that is not registered in France, but they are not allowed to promote the sale to potential investors.

mentioned Reuters In July, the French watchdog was speaking with three or four candidates for an ICO visa.

Although the news was announced on Thursday, the French ICO received its visa just before that on Tuesday.

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The sale of the first ICO recognized by the French AMF is scheduled to begin in March,

The initial coin offering aims to raise 1 million euros ($1.1 million), according to the company’s website.

The visa and approval expire on June 1, 2020.

The AMF hit hard on crypto companies that violated French law.

The agency had previously banned ads for crypto-derivatives, and in March blacklisted 15 crypto websites that had been designated as illegal.

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