The French National Assembly has approved new regulation covering crypto companies operating in the country to align financial laws with the EU.
The bill, which passed the parliament with 109 votes in favor and 71 against, will come to the table of French President Emmanuel Macron. According to local sources, Macron is expected to approve the new crypto bill within 15 days.
Crypto startups operating in the country already need approval from French institutions. The new regulation prepared by the legislature aims to further tighten the registration requirements.
If the law is implemented, it will not work retroactively. Crypto companies that want to operate in the country from July will be subject to the new regulation.
Crypto Regulation Coming to EU Parliament in April
The European Union took action last year, with many crypto companies going bankrupt. FTX stock market bankruptcy aside, operations against many fraud gangs in the region have had a major impact on the regulatory pressure.
The cryptocurrency regulation, which has been talked about for months, is scheduled to be discussed in the European Parliament in April. European authorities are greatly disturbed by crypto money laundering activities.
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