France has lowered its foreign direct investment screening threshold from 25% to 10% of voting rights for non-European investors in sensitive sectors, with cryptology explicitly included among covered industries such as AI, semiconductors, and cybersecurity. A decree enacted on August 2, 2026, expands a temporary Covid-era measure that was made permanent in January 2024, now applying more broadly to firms listed on foreign exchanges. The Economy Ministry handles authorization requests with fast-tracked reviews available within 10 business days, following a playbook similar to the US CFIUS and UK National Security and Investment Act regimes. Mid-stage crypto companies in France relying on global capital markets for growth funding face the most significant impact, as a 10% stake is a routine investment size in venture capital and growth equity.
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