France Leads EU, Opens Crypto License Applications

IconCryptoNewsTerminal Staff02 Aug, 2024

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France Leads EU, Opens Crypto License Applications

France has become the first major European Union (EU) country to begin accepting applications for crypto asset service provider (CASP) licenses. The move places France ahead of other EU nations like Germany, Italy, and Spain in regulating the cryptocurrency industry. The French financial regulator, Autorité des Marchés Financiers (AMF), announced the opening of the application process on May 1. The new regulations, which will come into effect on December 30, will cover areas such as crypto custody, management services, and trading platforms. Under the EU's landmark Markets in Crypto Assets (MiCA) regulation, firms seeking to offer crypto services across the bloc must acquire a CASP license by July 2026. France's early adoption of licensing procedures positions it as a leader in the EU's crypto regulatory landscape.

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