{"id":20978,"date":"2023-08-10T11:25:42","date_gmt":"2023-08-10T11:25:42","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/france-updates-its-crypto-licensing-regime-to-synchronize-with-mica\/"},"modified":"2023-08-10T11:25:45","modified_gmt":"2023-08-10T11:25:45","slug":"france-updates-its-crypto-licensing-regime-to-synchronize-with-mica","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/france-updates-its-crypto-licensing-regime-to-synchronize-with-mica\/","title":{"rendered":"France updates its crypto licensing regime to synchronize with MiCA"},"content":{"rendered":"
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In France, amendments to the existing crypto regime will come into effect next year to align national regulations with the pan-European framework set by Markets in Crypto-Assets (MiCA).\u00a0<\/p>\n
The Autorit\u00e9 des March\u00e9s Financiers (AMF), France\u2019s principal financial authority, announced the provisions of its General Regulation and its policy on digital asset service providers (DASPs) to take due to the \u201cenhanced\u201d registration. The press release was published on Aug. 10. <\/p>\n
The \u201cenhanced\u201d registration requirements for crypto platforms, captured by a new Article 721-1-2 of the AMF General Regulation, will include systems for managing conflicts of interest, additional disclosure obligations, segregation of client assets and platform assets and prohibition to use client assets without their express prior consent. <\/p>\n
Related: <\/em><\/strong>Agence France-Presse sues Elon Musk and X\/Twitter over compensation\u00a0for news<\/strong><\/em><\/p>\n The amendments will become obligatory starting Jan. 1, 2024, and must be taken into account in by applicants for enhanced DASP registration. However, DASPs that obtain a registration before Jan. 1, 2024, benefit from a \u201cgrandfather clause\u201d and will be subject to the previous, simpler version of framework. <\/p>\n The first comprehensive crypto framework, MiCA was approved by the European Parliament in April 2023 and should come into force in three levels in 2024 and 2025. The legislation, which has taken years to finalize, raised some concerns among the crypto community. One of them is the 200-million euro ($219 million) cap on daily transactions for private stablecoins, such as Tether (USDT). <\/p>\n Magazine: <\/em><\/strong>Blockchain games aren\u2019t really decentralized\u2026 but that\u2019s about to change<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" In France, amendments to the existing crypto regime will come into effect next year to align national regulations with the pan-European framework set by Markets in Crypto-Assets (MiCA).\u00a0 The Autorit\u00e9 des March\u00e9s Financiers (AMF), France\u2019s principal financial authority, announced the provisions of its General Regulation and its policy on digital asset service providers (DASPs) to […]<\/p>\n","protected":false},"author":1,"featured_media":20979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-20978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n