FTX collapse pushes strong crypto regulations in France

The tightening of regulations for cryptocurrencies in France arises after the bankruptcy of FTX that has dragged dozens of investors and promoters around the world

As the approval of the Crypto Asset Markets Law (MiCA) in Europe approaches, France is determined to tighten regulations on digital assets, especially after the bankruptcy of FTX.

The outcome of the crypto platform, which has affected dozens of people around the world, is strongly pushing this measure, proposed by the French Senate.

According to the Financial Times report, published last Thursday, in France there are some gaps that need to be filled in terms of cryptocurrency regulation. Senator Hervé Maurey, belonging to the finance committee, has indicated that they are ready “to amend the provision.”

It was learned that the measures could aim to “remove permission for registered cryptocurrency companies to conduct domestic business without a full regulatory license until 2026.”

France is one of the 20 countries with a favorable environment for cryptocurrency business. It currently has 50 crypto companies registered, all licensed to operate. Hence, the importance of having a solid regulatory framework that reduces the exposure of participants to risks of bankruptcy or loss of their investments due to other crimes.

M.Pino

Source: criptotendencia

(Photo: ambito.com, via web)

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