France is a country that is pursuing a regulated path for the tokenization of securities. The Pacte Law (Loi PACTE) is predicted to be signed into law at some point this spring. The legislation will define the issuance, and management, of digital assets. In light of the legislation, new companies are being launched and opportunities are being pursued.
Last week, in a report published by the Global Legal Post, it was revealed that CMS Francis Lefebvre Avocats, one of the largest business law firms in France, has formed a “working group” with Olarchy, a blockchain firm targeting real estate, to “study the challenges and opportunities of tokenizing real estate.”
Real estate, or property investment, is frequently viewed as a leading opportunity for securities issued via blockchain.
The report references Jean Michel Mis, a Member of the French National Assembly and author of a report on blockchain tech (on the photo above), explaining the “digitization of real estate and the tokenization of the economy makes it ‘crucial that the actors of these two ecosystems collaborate.”
Mis believes that “drastic changes in investment and real estate use will occur in the next five years.”
The Pacte Law is expected to be approved within the coming weeks and actionable later this year.