Core Viewpoint - France is taking a strong stance on crypto regulation, potentially blocking crypto firms licensed in other EU countries from operating domestically due to concerns over uneven licensing standards and associated risks to investors and markets [1] Group 1: Regulatory Developments - The president of France's securities watchdog, AMF, has called for the oversight of the crypto industry to be transferred to the European Securities and Markets Authority (ESMA) to ensure better supervision [2] - The EU's Markets in Crypto-Assets (MiCA) regulation allows crypto firms to apply for licenses in one member state and operate across the EU, but this has raised concerns about potential loopholes and inconsistent standards [3][4] - France's AMF has indicated it may challenge the validity of licenses granted in other EU countries, which could undermine the principle of passporting that supports the single financial market [5][6] Group 2: Implications for the Crypto Industry - The stability of a global crypto industry valued in trillions of dollars is at stake, with regulators warning that inadequate oversight could lead to financial instability and harm retail investors [7] - France's push for ESMA to oversee the largest crypto firms suggests that national regulatory approaches may not be sufficient to address the risks associated with the crypto sector [7]
France Threatens to Block EU-Licensed Crypto Firms, AMF Pushes for Centralized Oversight: Report
Yahoo Financeยท2025-09-15 17:27