France mulls fast-tracking registered crypto firms to new EU rules

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France mulls fast-tracking registered crypto firms to new EU rules
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Following the passing of MiCA, France’s financial regulator is looking at how crypto firms can smoothly transition over to the upcoming EU-wide rules.

Moving forward, MiCA now needs approval from the European Council in July to be officially adopted as regulation.

In France, crypto firms have two licensing options; a “simple” option offering relaxed requirements, and a more stringent “enhanced” option, which is favored by the government and isThe stricter option has greater controls surrounding anti-money laundering rules, customer asset custody, reporting to regulators and providing detailed risk and conflict of interest disclosures as a means to strengthen consumer protection.

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