Cryptocurrency Lawyer France

Cryptocurrency Lawyer France

CRYPTOCURRENCY LAWYER FRANCE: MISSIONS PRESENTATION & SUMMARY

Maître Jonathan POUGET’s law firm, a PhD in law and cryptocurrency lawyer France, offers advice and representation for your interests, regardless of your geographical location.

Your lawyer operates on various levels, including:

- - - Tax advice related to the holding of cryptocurrencies and operations involving cryptocurrencies, NFTs, or other digital assets;
    - Organization of fundraising through the issuance of current or future Tokens: drafting SAFT contracts and conducting public sales of fungible tokens (ICO, IDO, IEO, STO…);
    - Legal consultation to determine the legal obligations that apply to your project;
    - Preparation of the DASP (Digital Asset Service Provider) registration file with the Autorité des Marchés Financiers (AMF);
    - Structuring a project for the sale of NFT collections;
      Etc…

I. Taxation of Cryptocurrencies

Whether you are an individual or a professional, financial operations involving cryptocurrencies or other digital assets are subject to specific tax rules that need to be determined in order to maximize the security of your project.

Your lawyer is involved both before and after the operation, conducting the necessary legal research for optimization.

Your lawyer is also competent to file a tax ruling request with the tax administration. In the absence of a specific tax answer within the law, jurisprudence, or tax doctrine (BOFIP) for a particular tax question, a tax ruling request allows you to obtain a personalized response from the tax authorities.

In case of subsequent tax audit, you can use the tax ruling to oppose the auditor.

II. Organization of Fundraising through Issuance of Current or Future Tokens – Cryptocurrency Lawyer France

A) Private Fundraising

Fundraising can begin with a Love Money or Private Sale phase. During this phase, the fundraiser appeals to family members, friends, or privileged partners.

They propose acquiring Tokens that are either already available or will be in the future, in exchange for an investment in fiat currency (euros, dollars, etc.) or cryptocurrencies (Bitcoin, Ether, etc.).

These Tokens can be both Utility Tokens and Security Tokens. Your lawyer helps you understand the difference between these two statuses and clarifies their legal distinctions.

Whether the Tokens exist at the time of investment or not, a contract must be signed between the investor and the fundraising company.

Depending on the existence of Tokens at the contract’s conclusion date, a different contract may be required.

Your cryptocurrency lawyer is capable of advising you and drafting the most suitable contract.

B) Fundraising from the General Public

Fundraising from the general public usually follows the fundraising through over-the-counter contracts.

This type of fundraising often takes the form of an ICO for Utility Token issuance (with derivatives such as IDO or IEO) or an STO for Security Token issuance.

An ICO and an STO have different legal implications. STO is more restrictive than ICO, but it can be more attractive to investors as it generally allows integration into the capital of the company behind the fundraising.

An ICO requires the drafting of a Whitepaper that includes a set of information about the company and its objectives, sector of activity, fundraising, Tokens, their acquisition, and the benefits they offer.

For an ICO, it’s also possible to seek approval (Visa) from the AMF. This procedure is optional. It provides quality assurance for your ICO, builds investor confidence, and facilitates investor outreach.

However, it entails preparing a Visa application in advance and complying with enhanced anti-money laundering and counter-terrorism financing (AML-CFT) obligations afterward, in accordance with Article L561-2 of the Monetary and Financial Code for the latter point.

Your lawyer guides you through all these steps.

STO generally involves issuing Tokens that will eventually allow investors to become shareholders of the company. As shareholders, they will enjoy financial rights (dividend receipt) and political rights (voting rights).

STO entails publishing a Simplified Information Document or a Prospectus based on the fundraising amount, and submitting it to the AMF.

Other legal tasks need to be considered to successfully carry out an STO:

- - - Drafting a Whitepaper;
    - Implementation of single and double voting rights;
    - Amendment of the company’s bylaws;
    - Drafting or amending the shareholders’ agreement;
    - Organization of a general assembly;
    - Drafting a Subscription Bulletin;
    - Implementation of a KYC procedure;
    - Drafting a share transfer agreement;
      Etc…

These tasks are examples of what might be necessary for an STO. However, each project is unique, so an STO might require fewer or more tasks.

Your Cryptocurrency Lawyer France is capable of effectively structuring the legal framework for your ICO or STO.

III. Determination of Applicable Regulations for Your Project

French law and European Union law (applicable in France) have impacted the Blockchain and cryptocurrency sector.

Before launching your project, it’s necessary to determine whether regulations apply and what their scope is.

Your lawyer is capable of conducting the appropriate legal research based on the specifics of your project.

IV. Preparation of Registration File as a Digital Asset Service Provider (DASP) with the AMF – Cryptocurrency Lawyer France

The Autorité des Marchés Financiers (AMF) specifies that registration as a Digital Asset Service Provider (DASP) is mandatory if your company engages in at least one of the following activities:

- - - Custody of digital assets;
    - Custody of means of access to digital assets on behalf of third parties;
    - Purchase or sale of digital assets in legal tender currency;
    - Exchange of digital assets for other digital assets;
    - Operation of a digital asset trading platform.

The DASP registration process has been further strengthened since July 1st, 2023, requiring additional tasks to be carried out.

Your cryptocurrency lawyer France is capable of preparing your PSAN registration file and engaging with the AMF on this matter.

V. Structuring a Project for Selling NFT Collections

Several tasks can be considered when developing NFT collections:

- - - Determination of financial benefits for establishing an NFT project;
    - Assistance and advice in searching for NFT projects;
    - Company formation and determination of differing tax regimes;
    - Assistance and advice in finding clients and collaborators;
    - Drafting collaboration agreements;
    - Protection and enhancement of your intellectual property rights;
    - Drafting sales and licensing agreements;
    - Compliance with NFT-specific rules;
    - Drafting partnership agreements;
    - Tax and cryptocurrency management advice;
    - Advice on NFT sales modalities;
    - Advice on project evolution;
      Etc…

Your cryptocurrency lawyer France is capable of effectively structuring and developing your NFT collection.

Your lawyer is also proficient in handling any other requests related to DeFi, Blockchain, and new technologies in general. They can also advocate for matters concerning your privacy.