France Wants to Attract Crypto Companies Leaving the US
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May 18, 2023

Benoît de Juvigny, secretary general of the French Financial Markets Authority (AMF), has stated cryptocurrency companies that decide to leave the US market due to pressure from regulators will be welcome in France.

According to him:

"If American players want to benefit, in the very short term, from the French regime, and from the start of 2025 from European arrangements, clearly they are welcome. We have good relations with US partners. We have good relations and discussions with our US counterparts."

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74 crypto-related companies have reportedly already been registered in France, and this number could increase after the 27-nation EU Council unanimously approved the draft law to regulate the crypto asset market (MiCA) yesterday.

The document, which was adopted on April 20, requires companies to obtain a license to operate in the European Union and stablecoin issuers to have a backing. In May, the EU Council also adopted new measures to combat money laundering.

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The situation is totally different in the US. Since the beginning of the year, the SEC has pointed out violations in the operations of Bittrex, Coinbase, Kraken, Gemini and Genesis.

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