On 24 January, the National Assembly of France will vote on mandatory licensing for companies related to digital assets. The Block reports.<\/p>\n
If approved, the new regime would take effect in October \u2014 ahead of EU-wide rules under the comprehensive regulation of crypto-asset markets (MiCA<\/span>). The latter will come into force at the end of 2024.<\/p>\n \u00ab<\/em>the bankruptcy of FTX<\/em><\/a> revealed the risks inherent in any investment in crypto assets, especially when the company operates outside any regulation\u00bb,<\/em> \u2014 \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f \u0432 \u0441\u043e\u043f\u0440\u043e\u0432\u043e\u0434\u0438\u0442\u0435\u043b\u044c\u043d\u043e\u043c \u043a\u043e\u043c\u043c\u0435\u043d\u0442\u0430\u0440\u0438\u0438<\/a> \u043a \u0437\u0430\u043a\u043e\u043d\u043e\u043f\u0440\u043e\u0435\u043a\u0442\u0443.<\/p>\n<\/blockquote>\n The National Assembly will also consider proposals to move the deadline for licensing to January 2024 and replace the mandatory license with its simpler variant \u2014 a general registration process with additional consumer protections and corporate controls.<\/p>\n Currently, crypto firms prefer to register with the AMF<\/span> rather than obtain a license. The list currently includes \u043f\u0440\u0438\u0441\u0443\u0442\u0441\u0442\u0432\u0443\u044e\u0442 60 \u0444\u0438\u0440\u043c<\/a>.<\/p>\n To obtain a full license from AMF, applicants must secure liability insurance or minimum capital, establish internal controls and follow cybersecurity protocols along with other organizational requirements.<\/p>\n So far, none of the firms has managed to meet these criteria.<\/p>\n Regardless of which amendment lawmakers adopt, already-registered firms will be able to continue operating until the end of the transition period (presumably until early 2026).<\/p>\n The final sentence: The final vote on cryptocurrency regulation in the EU has been postponed<\/a> until April.<\/p>\n Earlier, BIS experts published a bulletin in which they examined the risks associated with cryptocurrencies and proposed<\/a> three paths for regulators.<\/p>\n\n