AMF Revamps Crypto Regulations to Enforce Stricter Registration Rules for DASPs
The French financial regulator, Autorité des Marchés Financiers (AMF), has announced new regulations and policies for digital asset service providers (DASPs). These changes aim to implement enhanced registration requirements for certain entities.
Key Points:
- The new requirements were introduced through the DDADUE law, which allows the French government to transpose EU directives.
- The law clarified provisions related to the EU’s Markets in Crypto Assets (MiCA) legislation.
- An enhanced registration regime will be mandatory from January 1, 2024 for market players providing specific digital asset services.
- The AMF amendments aim to align the requirements for DASPs in France with those for obtaining EU authorization under MiCA.
- The enhanced DASP registration includes requirements for security and internal control systems, managing conflicts of interest, accurate information provision, and maintaining public pricing policies.
France’s clear regulatory framework has attracted crypto companies and institutional players seeking to offer digital asset services. The AMF welcomes American players who want to benefit from the French regime and European arrangements from 2025.
Hot Take:
The AMF’s revamping of crypto regulations in France demonstrates the country’s commitment to aligning with EU directives and ensuring stricter oversight of digital asset service providers. These changes aim to enhance security, transparency, and customer protection within the crypto industry. With France’s attractive regulatory framework, the country is poised to remain an appealing destination for crypto companies and institutional players.+
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