France allowed insurance companies to invest in cryptocurrency

The National Assembly of France adopted a bill that allows insurance companies to invest in cryptocurrency and tokens.

The regulatory act (PACTE) will ensure the stimulation of local small businesses, and will also contribute to the redistribution of funds between individuals and enterprises. In addition to the fact that the document allows insurers to legally enter the cryprotes, it does not limit the amount of investment in virtual assets.

Insurance companies will be able to invest in cryptocurrency and tokens through specialized professional funds. The bill also allows them to offer life insurance policies provided by digital currency. In parallel, the initiative will contribute to the development of specialized funds.

However, the legislators claim that the PACTE cryptoinitative was not the main goal, since the document is mainly aimed at the modernization of the process of privatization and collecting funds for a new innovative fund.

Recall that the International Chamber of Commerce