Site iconSite icon ForkLog

France weighs accelerated registration for crypto startups

France weighs accelerated registration for crypto startups

The French financial-market regulator (AMF) рассматривает возможность ускоренного прохождения регистрации поднадзорными криптофирмами для соответствия предусмотренным в законе MiCA общеевропейским правилам.

France already operates a licensing regime that divides crypto-asset firms involved with digital assets into two levels.

All firms must undergo a “simple” registration, or opt for a higher tier of requirements that entails a greater disclosure burden. The obligations that firms will face under MiCA are analogous to the latter option.

At present, of the 60 firms registered, none has chosen the “expanded option.”

«MiCA повысит конкурентоспособность французских и европейских игроков, создаст согласованную структуру в Европе и обеспечит лучшую защиту инвесторов», — говорится в заявлении.

AMF said it would work on adapting its rules to ease the transition to MiCA.

The agency, in coordination with EBA and ESMA, is involved in drafting EU-level regulatory requirements on applying elements of the law.

Earlier in March 2023, the National Assembly of France approved new rules for registering crypto companies.

The bill was softened compared with the initial amendments. Local firms will be required to undergo a more stringent licensing process than the AMF currently offers.

Companies that have already registered will be able to continue operating until the end of the transition period, which is expected to run until 2026.

Exit mobile version