The AMF Scientific Advisory Board Conference, "ICOs, crypto-assets: what future? What regulatory framework?" will be held on June 7, 2018 at the Maison du Barreau (2 rue de Harlay – Paris 1st arr.)

Since the founding article of Satoshi Nakamoto in 2008, the development of the blockchain technology has been accompanied by the creation of a multitude of virtual currencies. More recently, the technology has found a new outlet in project financing. For nearly two years now, the number of fundraisings through initial coin offering (ICO) transactions has increased. Initially reserved for a niche community, they now address a broader public. And while all ICOs involve the issue of tokens, from one offering to the next the tokens do not automatically confer the same rights to subscribers (user rights relative to the developed service, financial and/or governance rights relative to the project).
This new trend poses a number of questions as to the legal nature of these protean “assets”, their underlying fundamental value and their regulation. Given the absence of specific regulation, the AMF launched a consultation on a potential supervisory framework in the autumn of 2017. It has also decided to devote its 2018 Scientific Advisory Board conference to this topic.
What are an ICO’s criteria for success? How are the crypto-assets issued through such transactions valued? Could these crypto-assets prove useful in portfolio management strategies? These are just some of the subjects of academic research which will be addressed at the conference. The event will also feature a debate on regulation.