France’s securities regulator is considering attempting to ban European license “passporting” over concerns related to MiCA regulation enforcement gaps in other EU countries.
France has warned it may try to block cryptocurrency firms operating locally under licenses obtained in other European countries, raising enforcement gap concerns around the European Union’s crypto regulatory framework.
France’s securities regulator, the Autorité des Marchés Financiers (AMF), told Reuters Monday that it is concerned about potential regulatory enforcement gaps related to Europe’s Markets in Crypto-Assets Regulation (MiCA), the world’s first comprehensive crypto regulatory framework.
Concerned that some crypto firms may be seeking licenses in more lenient EU jurisdictions, the AMF is considering a ban on crypto firms operating in France under MiCA licenses obtained in other member states.
