Societe Generale’s SG Forge Receives License to Offer Crypto Services in France
SG Forge, the cryptocurrency division of Societe Generale, has become the first company to receive a license to offer crypto services in France. The license allows SG Forge to provide buying and selling, exchange, and custody of digital assets. This milestone comes after dozens of crypto firms, including Binance, registered with the country’s financial regulator, Autorité des Marchés Financiers (AMF). The license signifies a higher level of compliance with regulatory requirements compared to registration. This development is seen as an important step for SG Forge and its Ethereum-based stablecoin, CoinVertible. SG Forge CEO, Jean-Marc Stenger, describes the license as confirming the company’s pioneering role in the crypto assets ecosystem.
Main Points:
– SG Forge is the first company to receive a license to offer crypto services in France from the AMF.
– The license allows SG Forge to provide buying and selling, exchange, and custody of digital assets.
– Registration with the AMF is required for firms to offer crypto custody, exchange, or trading services in France.
– The license demonstrates a higher level of compliance with regulatory requirements compared to registration.
– This milestone is an important step for CoinVertible, an Ethereum-based stablecoin.
Hot Take:
Societe Generale’s licensing as the first company to offer crypto services in France is a significant achievement. It showcases the company’s commitment to compliance with regulatory requirements and positions them as a pioneer in the crypto assets industry. This development also highlights the growing acceptance and recognition of cryptocurrencies within the traditional banking sector. It will be interesting to see how SG Forge leverages this license to further expand their offerings and contribute to the evolving crypto ecosystem in France.
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