GB Market Commentary 25/01/2023
by Marcus Sotiriou
Crypto regulations in France have eased as regulators opted for licensing requirements to be less stringent. The French National Assembly voted for an amendment, proposed by Sen. Daniel Labaronne, that allows crypto firms to register with the financial regulator after going through provisions already outlined in the EU’s Markets in Crypto-Assets regulation.
This follows the proposed amendment in December that would have required crypto firms to acquire a higher-tier license that not a single company is yet to obtain. This stricter amendment came after FTX collapsed, leading policymakers to act fast.
However, the amendment that has just passed will ease licensing requirements.
The vote passed as 61 voted in favour with 33 against.
his is a victory for the crypto industry, as it encourages more crypto firms in France to become licensed therefore enhancing adoption.