Bitnovo Receives PSAN Registration in France
Bitnovo, the non-custodial crypto asset service provider established in Spain in 2014, has recently been registered as a digital asset provider (PSAN) in France, according to a Nov. 15 update.
This registration allows Bitnovo to offer its services in France, as confirmed by the AMF, France’s Financial Markets Authority.
Maintaining Compliance
The PSAN status for digital asset service providers was introduced in 2019, with CACEIS Bank being one of the first institutions to receive approval from the AMF this year, as reported by Les Echos, a French financial newspaper.
According to the AMF’s website, registration is required to provide various digital asset services in France, including custody, buying/selling digital assets, trading digital assets with other digital assets, and operating a trading platform for digital assets.
Bitnovo currently offers a user-friendly self-custodial wallet for interacting with cryptocurrencies, providing users access to their assets without relying on third parties.
Hot Take: Bitnovo’s Expansion into France Marks Significant Milestone
Bitnovo’s registration as a digital asset provider in France reflects its commitment to expanding its services and complying with regulatory requirements. This milestone not only allows Bitnovo to offer its innovative crypto asset services in France but also demonstrates its dedication to maintaining compliance with financial regulations. By offering a self-custodial wallet for cryptocurrency interaction, Bitnovo is empowering users to have greater control over their assets without relying on traditional financial intermediaries. This development positions Bitnovo as an important player in the evolving crypto industry while emphasizing the importance of regulatory adherence for crypto service providers.
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