Reconciling law with innovation is often a challenge for legislators since, by definition, innovation departs from existing standards and frameworks. Some may therefore question the ability of the law to address innovative trends.
However, the reform about to be finalised in France, known as the PACTE draft bill, includes provisions on crypto-assets and the token economy, which go against this common statement. Quite the contrary. This bill illustrates how regulators can innovate through law to support innovation.
- In what is this reform innovative for the crypto economy?
- What will change for utility token issuers?
- What will change for crypto-asset service providers?
- What are the other key provisions on the crypto-economy in this reform?
This article sets out the key points explaining why the PACTE draft bill law is a real breakthrough for crypto-assets.