For the purposes of this chapter, a token is any intangible asset representing, in digital form, one or more rights that may be issued, recorded, stored or transferred by means of a shared electronic recording device enabling the owner of the asset to be identified, directly or indirectly.
A public offer of tokens consists of offering to the public, in any form whatsoever, to subscribe to these tokens. A public offer of tokens does not include an offer of tokens open to subscription by a limited number of persons, set by the General Regulations of the Autorité des marchés financiers, acting on their own behalf.
Prior to any public offer of tokens, issuers may apply for approval from the Autorité des marchés financiers. Issuers shall prepare a document providing all relevant information to the public on the proposed offer and on the issuer. This information document may be drawn up in a language customary in the sphere of finance other than French, provided that it is accompanied by a summary in French. This information document…
The AMF verifies that the planned offer meets the safeguards required for a public offer, and in particular that the issuer of the tokens: 1° Is a legal entity established or registered in France; 2° Has put in place any means to monitor and safeguard the assets raised in the offer. The AMF examines the information document, the draft promotional communications intended for the public after approval has been granted,…
If, after having granted its approval, the Autorité des marchés financiers finds that the offer proposed to the public no longer complies with the contents of the offer document or no longer offers the guarantees provided for in Article L. 552-5, it may order that any communication concerning the offer referring to its approval be discontinued and withdraw its approval under the conditions specified in its General Regulations, either definitively…
Subscribers are informed of the results of the offer and, where applicable, of the organisation of a secondary market for the tokens in accordance with the procedures specified in the General Regulations of the Autorité des marchés financiers.
Persons other than those referred to in Article L. 561-2 who, in the exercise of their profession, carry out, control or advise on transactions involving movements of capital, are required to report to the Public Prosecutor any transactions of which they are aware and which involve sums that they know to be the proceeds of one of the offences referred to in Article L. 561-15. Where they have made such…
The following are subject to the obligations set out in sections 2 to 7 of this chapter: 1° Bodies, institutions and services governed by the provisions of Title I of this Book, including branches of the credit institutions mentioned in Article L. 511-22 and the financial institutions mentioned in Article L. 511-23 ; 1° bis Payment institutions governed by the provisions of Chapter II of Title II of this Book,…
For the purposes of this chapter, the notion of business relationship means the professional or commercial relationship with the customer and includes, where applicable, the beneficial owner. In the case of life insurance and capitalisation contracts, the business relationship includes the beneficiary of the contract and, where applicable, the beneficial owner of the beneficiary of the contract referred to in III of Article L. 561-5. A business relationship is established…
For the purposes of this chapter, the beneficial owner is the natural person(s): 1° who ultimately controls, directly or indirectly, the customer ; 2° or for whom a transaction is executed or an activity carried out. A decree of the Conseil d’Etat shall specify the definition and procedures for determining the beneficial owner.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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