France Considers Blocking Crypto Firms Licensed in Other EU Countries
- France’s securities regulator, the Autorité des Marchés Financiers (AMF), may block crypto firms operating under licenses from other EU countries.
- The AMF is concerned about regulatory enforcement gaps within the EU’s Markets in Crypto-Assets Regulation (MiCA).
- Marie-Anne Barbat-Layani, chair of AMF, indicated that refusing the EU passport for some firms is a possibility.
- France, Austria, and Italy have jointly called for the European Securities and Markets Authority (ESMA) to oversee major crypto firms.
- The three nations propose stricter rules on crypto activities outside the EU and enhanced cybersecurity measures.
France’s warning reflects concerns that uneven regulatory standards could undermine the integrity of MiCA as it takes effect for crypto-asset service providers in December.
With potential bans on licenses from lenient jurisdictions, France aims to ensure robust oversight in its crypto market operations. (Source)
