Governor of the Bank of France, François Villeroy de Galhau, has recently called for stricter regulatory standards for cryptocurrency businesses in the country. In a speech given at Paris on January 5th, he argued that France should not wait for impending EU crypto rules before requiring local Digital Asset Service Providers (DASPs) to obtain licenses.
At present time Financial Markets Authority (AMF) requires “registration” from firms offering crypto trading and custody services but having a DASP license is voluntary. Out of 60 registered companies with AMF only none holds a DASP license yet according to Bloomberg.
It’s clear that Governor Villeroy de Galhau wants to bring more transparency and accountability within this sector as well as provide better protection against fraudulent activities like money laundering etc., so it will be interesting to see what new regulations are going be put forward by French government over coming weeks and months ahead.
Stay tuned to Cointopper.