French Lawmakers Soften Stance on Compulsory Crypto Licenses

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French Lawmakers Soften Stance on Compulsory Crypto Licenses
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Lawmakers in France’s AssembleeNat have proposed extra conflict of interest and consumer rules for crypto firms as of 2024, in a bid to soften a tough stance from the Senat. jackschickler reports

Crypto companies in France would have to follow extra conflict of interest and consumer protection rules as of 202, under proposals voted on by lawmakers at the National Assembly on Tuesday.

In December, Senator Hervé Maurey said crypto companies that aren’t registered with France’s Financial Markets Authority by Oct. 1, 2023, should be obliged to seek a license – something that requires extra checks on governance and financial management, and which no crypto firm has yet succeeded in gaining.

“Making a French license entirely compulsory while other members of the EU are moving towards MiCA under its planned timetable would prove ineffective to achieve the goal of protecting consumers,” added Labaronne, who is from President Emmanuel Macron’s Renaissance party.

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