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France’s financial regulator supports faster mandatory licensing for crypto firms

France’s financial markets authority (AMF) wants to force crypto companies to seek a license if they aren’t already registered in the country, its chair Marie-Anne Barbat Layani has said.

According to Business Insider, Barbat-Layani appeared to be supporting a move proposed last year by the French Senate, which would mandate crypto firms to seek some of regulatory recognition in anticipation of the European Union’s new Markets in Crypto Assets (MiCA) regulation by 1 October 2023.

“The AMF, like the parliament, calls for an accelerated move to a regime of obligatory licensing for non-registered providers” of crypto services, Barbat-Layani said at an event, according to a tweet posted by the regulator.

A number of prominent companies, including Binance, have registered with the AMF. The registration involves checks on companies’ governance and compliance with anti-money laundering rules. No provider has yet been issued a license, a voluntary procedure set out under French law.

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