French insurance providers can now invest in cryptocurrencies with no limit on the amount of investment, following the passage of a new law, following the bill adopted by the National Assembly of France on Thursday, April 11.
Known as “Plan d’action pour la croissance et la transformation des entreprises,” the bill aims to redirect savings from individuals to local businesses and stimulate a wave of privatization in the French economy. French Finance Minister, Bruno Le Maire noted that the bill would help the development of the country’s economy.
The act enables insurers to invest in crypto through specialized professional funds, as well as allows them to offer life insurance policies exposed to crypto. In the meantime, the French crypto community continues to wait for the adoption of the country’s proposed regulations for the emerging industry.
