France to Accelerate Crypto Startups Registration

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The French Financial Market Supervisory Commission (AMF) is exploring the possibility of expediting the registration of crypto firms under its supervision in order to adhere to the trans-European regulations specified in the MiCA law.

In France, companies associated with digital assets are divided into two levels; firms need to complete a “simple” registration, or can choose a higher tier of requirements that involves more disclosure.

Out of the 60 firms on the register, none have opted for the more stringent version.

The AMF believes that MiCA will improve the competitiveness of French and European businesses, form a uniform framework in Europe, and offer better protection for investors.

In order to ensure a smooth transition to MiCA, the agency said it will modify its rules accordingly. In conjunction with the EBA and ESMA, the AMF is aiding in the development of EU-wide regulations concerning the implementation of the law.