France is revising registration requirements for cryptocurrency firms to better align with the EU’s MiCA regulations for the industry, the country’s financial markets regulator (AMF) has announced.
The AMF said the “enhanced” registration requirements will come into effect on January 1, 2024, and will be mandatory for “new players” seeking to provide any regulated services. The changes will also allow for a fast-track procedure to authorize companies that are already operating in the country and have obtained approval.
The AMF said that DASPs that obtained simple registration before January 1, 2024 benefit from the "grandfather" clause and continue to comply with the framework applicable before that date. The AMF recently issued the first crypto license to the crypto unit of Societe Generale. Companies such as Binance and Hex Trust have registered with the regulator.