New Bill Introduced on France allowing Insurance Providers to invest in Cryptocurrency Market
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On the 11th of April the France Assembly adopted a bill which was designed to stimulate local business development for which they had a poll . 147 of them in the National Assembly was in favor , where as 50 of them were against.
The bill known as Plan d’action pour la croissance et la transformation des entreprises,” (Pacte) reportedly allows the insurance provider in France to invest. Cryptocurrency such as BTC with no limit barrier on investment.
The dual provision of the act enables the investors to invest in Crypto through specialised funds.
The investment offers life insurance policies which are exposed to crypto .
The deputy budget manager of Emmanuel Macron’s party Last Republique En Marche has confirmed in the news that the primary objective of the pacte is not Crypto related initiative .
The main aim of the Bill is to privatize the process including the sale of states stake in order to raise money for the new Innovation Funds.
Eric Woerth the head of the finance committee has also proposed to have an initial ban on the anonymous Cryptocurrency like Monero(XMR) and ZCash(ZEC).
