Summary
- France says it is reviewing a plan to restrict the domestic provision of services by virtual-asset firms licensed in other countries.
- The French Financial Markets Authority (AMF) said firms are increasingly obtaining MiCA licenses in countries with looser regulation and then entering the French market.
- It noted that under the current MiCA regulation, a firm approved in one member state can operate across all 27 EU member states.
France is moving to limit the domestic provision of services by virtual asset (cryptocurrency) firms that have been licensed in other European Union (EU) member states.
On the 15th (local time), Cointelegraph reported that the French Financial Markets Authority (AMF) said, "It is considering measures to limit the provision of services in France by virtual asset firms that have been licensed in other EU member states."
This is because cases have been increasing in which some firms obtain a MiCA license in EU countries with relatively lax regulation and then enter the French market. Under the MiCA regulation, a firm approved in one member state is authorized to operate across all 27 member states.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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