The Bill on business growth and transformation, known as the “PACTE Bill” in French, aims at “eliminating barriers to business growth at every stage of business development, from business creation to business transfers, including financing”, while protecting companies that conduct so-called “strategic” activities. The wide range of contemplated measures includes the creation of a clear legal regime governing initial coin offerings (“ICOs”) and the improvement and strengthening of sanctions in case of non-compliance with the rules applicable to foreign investments in France.

The PACTE Bill was adopted at first reading by the National Assembly on October 9, 2018 and will be discussed by the Senate in January 2019.