MiCa, the crypto regulation approved by the European Union, has been included in the rapid adaptation process by France.
The development of the cryptocurrency market also paved the way for countries to determine regulatory clarity. Many countries feel that cryptocurrencies should be regulated quickly and sensibly. Finally, the European Union approved the crypto regulation MiCa, which it had been considering for a long time. France also participated in the adaptation processes of European countries. France said it could provide a quick transition to MiCa regulations.
An Important Step for MiCa from France
France, which has been acting tight on crypto in the wake of the FTX crisis, is clarifying the processes for the European Union’s crypto regulation MiCa.
France’s Financial Markets Authority (AMF) recently stated that existing crypto institutions can adapt to MiCa. In this period when MiCa rules started to settle, AMF started the fast registration application in order to ensure integration of companies that have a place in the sector.
AMF wants to integrate France’s current regulations with the more rigorous MiCa. This system will lead to the evaluation of rapid modular licensing. In addition, the regulatory body gave the message that provisions such as reserves, conflicts of interest, retention and documentation will be harmonized with Europe.
Hardening crypto procedures, MiCa began to be accepted by European countries one by one. Previously, Ukraine announced that MiCa would be integrated into the country system.
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