Blockchain and private life, the new “challenges” of the AMF, according to its president

“What is called the ecosystem, Blockchain will appeal to the whole of the authorities”, financial and monetary, has recognized Robert Ophèle, appointed in July to head the regulator of the markets, in a speech at the conclusion of a symposium of the sanctions Commission of the Autorité des marchés financiers (AMF). He referred in particular to the case of raising of funds in virtual currencies, so-called “initial corner offerings (ICO), promising that the AMF would decide soon on the subject.

“It is important (…) to determine the nature of these operations”, he said, excluding, in particular, the idea defended by some commentators that they come out of the “miscellaneous goods”, such as wine and gems, which constitute one of the categories of investment in the AMF.

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The AMF is vigilant with regard to the obligations of the GDPR

On another level, the president expressed concern that various amendments to legislation and regulations, fearing that they increase the investigations of the AMF on the grounds of the defense of privacy. On this ground, “an extreme interpretation (…) would (…) most offenders of finance”, he assured.

Mr. Ophèle cited a July decision by the constitutional Council, which has decided to withdraw the AMF the right of access to connection data held by telecoms operators and internet, say fadettes. He also expressed his vigilance in view of the entry into force next year, a new text governing the protection of personal data at the level of the european Union (GDPR). “80% of our investigations have an international dimension,” said Mr. Ophèle.

(with agencies)

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