France Authorizes First Batch of Crypto Companies Under New Regulation
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July 17, 2019
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The Autorité des Marches Financiers (AMF), France's financial regulator, is about to allow the first batch of crypto-related companies to operate within the country under its new regulations, Reuters reports.

France, which in April this year passed its new crypto legislation, has just announced it will soon apply this rules to approve the first "batch" of crypto companies so that they can freely develop their activities within the country.

France adopted this new regulation only a few months ago and urged other EU countries to adopt it with the aim of having a single regulatory framework.

According to this regulation, which will come into force at the end of this month, crypto-related companies will voluntarily comply with the regulations on capital requirements and consumer protection and will pay taxes in France, in exchange for the approval of the regulator.

The regulator is in talks with 3 or 4 candidates who wish to hold their ICO in the country, as well as with some exchanges, custodians and fund managers.

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