The $2T French life insurance market can now invest in Bitcoin

posted 12 days ago
A newly passed law in France allows life insurance providers to invest in Bitcoin without any limitation on the amount that can be allocated. French lawmakers passed the “Pacte law” aka “Action plan for the growth and transformation of enterprises” which allows insurers to invest, via specialized professional funds, in crypto-assets. The “Pacte law” allows insurers to offer life insurance policies exposed to Bitcoin.

Emilien Bernard-Alzias, a lawyer at Simmons & Simmons LLP said “...it is written in black and white that FPSs [specialized professional funds] can invest in cryptos like Bitcoin.” Also, this probably applies to institutional investors in general, including pension funds. Thus, there’s now far greater regulatory clarity in one of the world’s biggest economies and in one of the leading architects of the European Union.
Tags: bitcoin, blockchain, news