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France’s financial markets authority (AMF) wants to force crypto companies to seek a license if they aren’t already registered in the country, its chair Marie-Anne Barbat Bank of France governor François Villeroy de Galhau called for switching to a mandatory licensing regime for crypto firms in 2025. The central banker wants to be ahead of The French central bank Governor Francois Villeroy de Galhau is pressing for stricter regulatory requirements for crypto firms in France. He said some 60 firms, including The head of the central bank of France has said that a licensing regime needs to be adopted in the country for crypto service providers. The executive said that During a speech in Paris on January 5, the governor of the central bank stated that France should not wait for impending EU crypto rules before requiring local Digital Asset Service Providers At the moment, the Financial Markets Authority [AMF] requires registration from crypto firms offering crypto trading and custody in France. However, a DASP license is France’s central bank governor said the country should introduce compulsory registration for digital asset companies, without waiting for a promised European Union

French Crypto Firms Face Mandatory Licensing Under Central Bank Governor's Push

France's crypto landscape is poised for significant regulatory changes as Bank of France governor François Villeroy de Galhau champions a move towards mandatory licensing for crypto firms. This initiative, aimed at enhancing consumer protection and market stability, could reshape the way Digital Asset Service Providers (DASPs) operate within the country.

The head of the central bank of France has emphasized that a licensing regime needs to be adopted in the country for crypto service providers. Governor François Villeroy de Galhau called for switching to a mandatory licensing regime for crypto firms in 2025. The central banker wants to be ahead of impending EU regulations, urging immediate action. During a speech in Paris on January 5, the governor of the central bank stated that France should not wait for a promised European Union regulatory framework before requiring local Digital Asset Service Providers to obtain licenses.

Currently, France’s financial markets authority (AMF) wants to force crypto companies to seek a license if they aren’t already registered in the country, its chair Marie-Anne Barbat. The Financial Markets Authority [AMF] requires registration from crypto firms offering crypto trading and custody in France. However, a full DASP license offers greater regulatory oversight. The French central bank Governor Francois Villeroy de Galhau is pressing for stricter regulatory requirements for crypto firms in France. He said some 60 firms, including some of the largest, are impacted by this potential change.

France’s central bank governor said the country should introduce compulsory registration for digital asset companies, without waiting for a promised European Union MiCA regulation. The executive said that the urgency stems from the rapid growth and increasing complexity of the crypto market. By implementing mandatory licensing, France aims to be a leader in crypto regulation, ensuring a safer and more transparent environment for investors and users alike.

The move towards mandatory licensing signals a tightening of regulatory scrutiny on the French crypto industry. While registration is currently required, the proposed licensing regime represents a more comprehensive and demanding approach to supervision. Crypto firms operating in France should prepare for these potential changes to ensure compliance and maintain their operational capabilities. The move is likely to influence other European nations, positioning France as a frontrunner in responsible crypto regulation.

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