French Finance Minister, Bruno Le Maire pleads with EU to adopt France cryptocurrency regulations
|- Crypto regulations were recently enacted allowing crypto related organizations to run their own operations.
- The purpose of the regulations is to protect consumers from fraudulent activities.
The Minister of Finance is France is currently talking the European Union members into adopting cryptocurrency regulations put in place by France. Crypto regulations were recently enacted allowing crypto related organizations to run their own operations.
However, the operators of digital assets in the country are required to file an application for a certification that gives the authority the ability to identify the issuer of a new token. The same requirement is needed for operators of cryptocurrency exchanges. In addition, the authority will be able to check the operators’ business plans as well as AML adherence. The purpose of the regulations is to protect consumers from fraudulent activities and allow for the taxation of crypto companies.
While at a blockchain event in Paris, Le Maire said:
“I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience. Our model is the right one.”
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