The French Financial Markets Authority amends the registration requirements for encryption companies to comply with the EU MiCA regulations.
2023-08-10 09:01
Odaily News: The French Financial Markets Authority (AMF) announced that France is modifying the registration requirements for cryptocurrency companies to better comply with the new regulations imposed by the European Union's MiCA.
According to the AMF, the "enhanced" registration requirements will come into effect on January 1, 2024, and will be mandatory for "new entrants" seeking to offer any regulated services. These changes will also allow for the implementation of fast-track procedures to authorize companies that are already operating and approved in the country.
The AMF stated that DASP (Digital Asset Service Providers) that obtained a simple registration before January 1, 2024, will benefit from the "grandfather" clause and continue to comply with the framework applicable before that date.
Recently, the AMF issued the first cryptocurrency license to the crypto division of the French bank Societe Generale. Companies such as Binance and Hex Trust have already registered with regulatory authorities. (CoinDesk)
According to the AMF, the "enhanced" registration requirements will come into effect on January 1, 2024, and will be mandatory for "new entrants" seeking to offer any regulated services. These changes will also allow for the implementation of fast-track procedures to authorize companies that are already operating and approved in the country.
The AMF stated that DASP (Digital Asset Service Providers) that obtained a simple registration before January 1, 2024, will benefit from the "grandfather" clause and continue to comply with the framework applicable before that date.
Recently, the AMF issued the first cryptocurrency license to the crypto division of the French bank Societe Generale. Companies such as Binance and Hex Trust have already registered with regulatory authorities. (CoinDesk)
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