{"id":56332,"date":"2023-08-10T07:16:33","date_gmt":"2023-08-10T11:16:33","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=56332"},"modified":"2023-08-10T07:16:38","modified_gmt":"2023-08-10T11:16:38","slug":"france-to-integrate-mica-rules-into-its-crypto-licensing-regime","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/france-to-integrate-mica-rules-into-its-crypto-licensing-regime\/","title":{"rendered":"France to Integrate MiCA Rules into its Crypto Licensing Regime"},"content":{"rendered":"\n<p>France's current cryptocurrency regulations will be amended to match the pan-European rules set by the <a href=\"https:\/\/coinscreed.com\/staging\/eus-mica-rules-could-prohibit-mev-activities-on-ethereum.html\" target=\"_blank\" rel=\"noreferrer noopener\">Markets in Crypto Assets Act<\/a> (MiCA). The new regulations will become obligatory by January 1, 2024, for obtaining crypto licenses by DASPs.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"744\" height=\"469\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/image-29.png\" alt=\"France to Integrate MiCA Rules into its Crypto Licensing Regime\" class=\"wp-image-56338\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/image-29.png 744w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/image-29-300x189.png 300w\" sizes=\"(max-width: 744px) 100vw, 744px\" \/><figcaption class=\"wp-element-caption\">France to Integrate MiCA Rules into its Crypto Licensing Regime<\/figcaption><\/figure>\n\n\n\n<p>Due to the &#8220;enhanced&#8221; registration, the Autorit\u00e9 des march\u00e9s financiers (AMF), France's primary financial authority, announced the provisions of its General Regulation and its policy regarding digital asset service providers (DASPs). On August 10, the press release was published.<\/p>\n\n\n\n<p>The &#8220;enhanced&#8221; registration requirements for crypto platforms, as outlined in a new Article 721-1-2 of the <a href=\"https:\/\/www.amf-france.org\/en\/regulation\/general-regulation\/general-regulation-user-guide\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">AMF General Regulation<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>, will include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Systems for managing conflicts of interest.<\/li>\n\n\n\n<li>Additional disclosure obligations.<\/li>\n\n\n\n<li>Segregation of client assets and platform assets.<\/li>\n\n\n\n<li>A prohibition against using client assets without their express prior consent.<\/li>\n<\/ul>\n\n\n\n<p>The amendments will become mandatory on January 1, 2024, and applicants for enhanced DASP registration must consider them. However, DASPs that obtained registration before January 1, 2024, benefit from a &#8220;grandfather clause&#8221; and are subject to the framework's previous, more straightforward iteration.<\/p>\n\n\n\n<p>MiCA, the first comprehensive <a href=\"https:\/\/coinscreed.com\/staging\/india-suggests-inputs-for-crypto-framework-to-g20.html\" target=\"_blank\" rel=\"noreferrer noopener\">crypto framework<\/a>, was authorized by the European Parliament in April 2023 and is expected to go into effect in three phases between 2024 and 2025. <\/p>\n\n\n\n<p>The finalization of the legislation, which took years, sparked some concern among the crypto community. One is the daily transaction limit of 200 million euros ($219 million) for private stablecoins such as Tether.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>France&#8217;s current cryptocurrency regulations will be amended to match the pan-European rules set by the Markets in Crypto Assets Act (MiCA). The new regulations will become obligatory by January 1, 2024, for obtaining crypto licenses by DASPs.\u00a0 Due to the &#8220;enhanced&#8221; registration, the Autorit\u00e9 des march\u00e9s financiers (AMF), France&#8217;s primary financial authority, announced the provisions [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":56338,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[15363,15646,1763,5514],"class_list":["post-56332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-licence","tag-dasps","tag-france","tag-mica"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/image-29.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/56332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=56332"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/56332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/56338"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=56332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=56332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=56332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}