The French financial regulator announces amendments to registration requirements
The Autorité des marchés financiers (AMF), France’s financial regulator, has announced amendments to its registration requirements for digital asset service providers (DASPs) in preparation for the implementation of the EU’s Markets in Crypto Assets (MiCA) regulatory framework.
Key Points:
- The AMF will introduce “enhanced” requirements for crypto firms.
- The amendments align with the upcoming MiCA regulatory framework.
- The “enhanced” requirements will take effect on January 1, 2024.
- The changes aim to incorporate provisions for DASPs subject to “enhanced” registration and align the requirements with those for European authorization for crypto-asset service providers (CASPs) under the MiCA Regulation.
- France already has a comprehensive licensing regime for crypto firms, and the changes are being made to comply with MiCA.
EU signs MiCA into law
The European Union has formally signed MiCA into law. MiCA will introduce a comprehensive framework for licensing and regulating crypto businesses operating within the EU.
Hot Take:
France’s amendments to its registration requirements for DASPs demonstrate its commitment to aligning with the EU’s MiCA regulatory framework. By incorporating the provisions and aligning the requirements, France aims to create a more comprehensive and standardized approach to regulating crypto firms. This move not only strengthens the country’s regulatory oversight but also signals its willingness to adapt and evolve in the rapidly evolving crypto industry.
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