https://cointelegraph.com/news/report-france-accounts-for-minor-part-of-global-ico-market-while-us-leads-the-industry

"As the AMF reported, France has accounted for a small share of the market, with 89 million euros ($100 million) raised in 15 ICO projects, while most of ICOs were carried out in the U.S. According to the study, French ICOs amounted to 1.6 percent of global equity financing in 2017."

What do you attribute this to? A capitalist culture? Less taxes?

I think the most ICO friendly environment will create the most economic progress, as it appears to be turning into the preferred form of funding for companies' evolutions across industries.

What do you attribute this to? A capitalist culture? Less taxes? In your opinion, what makes an ICO-friendly environment?