France says it may block crypto companies licensed in other EU countries
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 warned it may try to block cryptocurrency companies operating locally under licenses obtained in other European countries, raising enforcement gap concerns regarding 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 companies may seek licenses in more lenient EU jurisdictions, the AMF is considering a ban on operating in France under MiCA licenses obtained in other member states.