The French Senate may enact the law that will make it mandatory for crypto money companies operating in the country to obtain licenses at the beginning of 2023.
Financial Times (FT) According to the news presented by French Senatemember of the financial commission Herve Maureycrypto companies until 2026 proposed an amendment to repeal a clause allowing it to operate without a full license. The amendment was approved by the French Senate on 13 December and He will appear before the Parliament in 2023.
Maurey’s change, companies from October 2023 From the Autorité des Marchés Financiers (AMF) will end the option to operate without strict controls as it will force them to obtain a license. The Commissioner justified the legal pressure in question. FTX He associated it with the collapse and made the following statements:
The FTX collapse changed the rules of the game. This has led some players within the French system to feel that things should be more tightly regulated.
Currently from AMF in France operating without a license 50 crypto companies exists. According to the current legal status, the European Union (EU) is expected to enter into force in early 2023. MiCA (Crypto Asset Markets Act) Cryptocurrency companies will not be required to obtain a license until 2026. This is exactly what Maurey suggests is an important detail that has been overlooked.