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Description

Adopted Bill including operational license requirement for cryptocurrency providers

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.

Original source

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2022-11-23
under deliberation

On 23 November 2022, the “Bill containing provisions to incorporate European Union law in the areas…

2023-02-28
adopted

On 28 February 2023, the French National Assembly adopted the “Bill containing provisions to incorp…

2023-03-09
adopted

On 9 March 2023, the French President signed the “Bill containing provisions to incorporate Europea…

2024-01-01
in force

On 1 January 2024, Section 8 of the “Bill containing provisions to incorporate European Union law i…