The Autorité des Marchés Financiers (AMF) in France has raised concerns over potential regulatory gaps affecting crypto companies operating locally with licenses obtained from other EU nations.
France's Warning on MiCA Licenses
The AMF is contemplating a ban on operating in France for firms licensed in other member states under MiCA. AMF Chair Marie-Anne Barbat-Layani described refusing EU passports as 'very complex' and akin to an 'atomic weapon' for the market.
Issues with MiCA Standards Compliance
Concerns arise that companies might seek licenses in countries with looser requirements, thereby threatening MiCA's intended purpose of creating a consistent regulatory environment for crypto assets across the EU.
Broader Implications for EU Crypto Regulation
France's position raises questions about regulatory consistency among EU member states and could lead to significant compliance challenges for crypto companies, necessitating separate assessments for each EU market.
France highlights the need for stringent cryptocurrency regulation in the EU, which may either strengthen existing norms or create additional barriers to business.
