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On 28 February 2023, the French National Assembly adopted the “Bill containing provisions to incorporate European Union law in the areas of economy, health, work, transport and agriculture”, which contains new licensing rules for crypto firms. Following the EU Regulation on Markets in Crypto Assets (MiCA), currently waiting for the European Parliament vote, the Bill introduces requirements on internal controls, cybersecurity, conflicts of interest, governance standards, reporting to regulators, and rules on segregation of funds which are mandatory for digital asset providers to obtain a license of operation from the French financial regulator. The Bill now goes to the President of France for signing into Law.
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