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 PACTE bill enacted in France in May 2019 includes provisions on digital 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 way is this reform innovative for the crypto economy?
What will change for utility token issuers?
What will change for digital 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 bill is a real breakthrough for digital assets.