📱 France🇫🇷 begins issuing licenses to crypto service providers

📱 France🇫🇷 begins issuing licenses to crypto service providers

France has become the first major EU economy to open applications for integration under the MiCA framework. According to this new regulatory regime, companies must secure a license by July 2025.

🆎 Additional provisions regarding crypto markets (including custody and management of crypto assets on behalf of clients, as well as platform management for crypto asset trading) must come into force by the end of the year. Those looking to complete the licensing process should act quickly.

🆎 The Financial Markets Authority (AMF) actually began registering applications last year, and there are already 74 in the system.

More about MiCA:

👉 Who does it apply to❓

• Custodial wallets.
• Crypto-to-crypto or crypto-to-fiat exchanges.
• Crypto trading platforms.
• Consulting firms that hold crypto assets and manage crypto portfolios.

👉 From the perspective of asset applicability, the regulation covers three types of tokens:

• Tokens tied to assets (including stablecoins backed by goods or one or more currencies).
• Electronic money tokens (stablecoins backed by fiat currency).
• Other tokens, including utility tokens.
• MiCA will apply to NFTs (non-fungible tokens) only if the NFT has characteristics that make it similar to one of the assets covered by MiCA.

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