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The Governor of France’s Central Bank, Francois Villeroy de Galhau, has said that France should not wait for the implementation of the EU’s Markets in Crypto Assets (MiCA) regulation in order to start applying stricter licensing requirements to cryptocurrency firms.
At present, to operate in France as a crypto firm, a company has to register with the French Financial Markets Authority (AMF) and comply with anti-money laundering rules. Crypto firms can also apply for a non-obligatory license from the AMF, which to date none have availed.
Villeroy, speaking to the Parisian financial sector on Thursday, said that the recent “disorder” in the crypto markets makes it clear that France should move to a mandatory licensing regime as soon as possible.
A number of high-profile cryptocurrency firms, including Binance and Ledger currently operate in France.
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