French Politicians Promote Framework for Crypto Providers

France aims to provide a legally-mandated framework for providers of digital currencies and services, according to reports this week.

Various members of the current president’s LREM party stated that they aim to amend the nation’s legislation to further guidelines and regulatory initiatives to crypto asset providers, according to local sources. The NA aims to debate the proposal by the month’s end.

New Rules and Regulations

The initiative, started three MPs of the LREM party, hopes to further the current legal infrastructures in place so that all players in the crypto sector can gain approval from the AMF, the French market’s primary regulatory body. Local news organizations reporting on the matter added that the approvals will not be required, but that each member of the community will be capable of requesting it in order to achieve a higher level of credibility.

Earlier in the summer, Jean-Pierre Landau wrote a report stressing the importance of not regulating crypto to an extreme degree as it will do more harm than good. This September, the AMF was presented with the legal authority to issue ICO licences in hopes of catching the attention of global investors.

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