French Financial Authority Issues Proposal to Improve Crypto Regulation

Share This Post

After a long review process and the close cooperation of national authorities it has been decided to implement a regulation on Initial Coin Offerings (ICOs). There is no better measure to protect investors and the perception of ICOs as a method of financing, while transforming the ICO market.

On the 3rd of February, the French financial authority Finma issued a proposal to improve crypto regulation and therefore the security of the blockchain. The main objective is to allow the French authorities to monitor the activity of companies dealing with virtual currencies. The proposal seeks to create a centralized blockchain system that will allow the state to track transactions and their origins.

France’s stock market regulator has published a set of proposals calling for greater oversight and regulation of the cryptocurrency market.

In June of this year, the AMF amended its policy and added to the general rule to strengthen its anti-money laundering and anti-terrorist financing regime. It also issued a public warning about the cryptocurrency market, as did the UK’s Financial Conduct Authority, although the AMF specifically mentioned crypto-currency derivatives platforms.

New proposal to control cryptocurrencies

The Financial Markets Authority (AMF) has issued new proposals that could give more regulatory powers to the cryptocurrency market. On the 13th. In July, the organisation announced that it had presented key ideas in response to the European Commission’s consultation on supervisory convergence.


The proposals give a general idea of what the AMF wants to achieve in terms of supervision and regulation, but cryptocurrencies could play an important role. According to the document, the plan aims to give the European Securities and Markets Authority (ESMA) an enhanced role in ensuring consistent and uniform supervision, guaranteeing a level playing field and eliminating the possibility of regulatory arbitrage.

EU members are currently working with the US, UK, Canada, South Korea, Japan and China to regulate the cryptocurrency market.

Now that the market has gained sufficient momentum and is supported by large investors, the authorities have no choice but to address the supervisory problems. Christine Lagarde, head of the European Central Bank, has called for global regulation of bitcoin.

European authorities, but also those of other countries, have their eyes on the major exchanges, of which Binance is one of the main targets. The rules are very different in different countries.

Key actions listed in sentences

Four main action points are proposed to ensure a level playing field for all market participants and to reduce regulatory arbitrage. One of these is the centralised supervision by ESMA of new non-regulated activities as well as certain categories of entities and activities based on their cross-border, significant or systemic impact.

It is possible that this applies to the bitcoin market, but the announcement gives the example of European clearing houses. Of course, none of this means that European regulators are considering taking steps to regulate the cryptocurrency market.

But given the seriousness with which governments are now investigating the cryptocurrency market, it’s possible that European bodies will shift up a gear.

European regulators are reportedly investigating exchange coins on Binance for possible violations of securities laws. Exchange tokens do not require an exchange prospectus, according to Binance. In addition, the exchange had to suspend payments for the main European SEPA payment network due to events beyond its control.

Related Tags:

france cryptocurrency regulationfuture of france crypto memegermany cryptocurrency regulationfrench crypto taxis cryptocurrency legal in francecoinbase,People also search for,Privacy settings,How Search works,Bitcoin,Currency,france cryptocurrency regulation,future of france crypto meme,germany cryptocurrency regulation,french crypto tax,is cryptocurrency legal in france,bitcoin supply leaving exchanges,france cryptocurrency news


Related Posts

A Guide To UK’s Best Bitcoin Casino Sites |

Over the years, we’ve reviewed hundreds of bitcoin casinos...

Polkadot price analysis: Could DOT/USD recover to recent support line of $13.3?

Polka Dot, or DOT, is a blockchain-based cryptocurrency with...

Bitcoin Price Analysis: BTC reaches $31,000, further downside to follow?

Since the beginning of 2018, investors have been watching...

Litecoin Price Analysis: LTC holds $125 overnight, break below $120 today?

Litecoin (LTC) is a cryptocurrency that is often considered...

BitTorrent (BTT) Price Prediction 2021 – 2028

As you all know, BitTorrent is a popular torrent...
- Advertisement -spot_img