French senators vote to relax cryptocurrency licensing regulations

ChainCatcher news, after the vote in the National Assembly, the French crypto industry will see more lenient regulations regarding regulatory registration. A stricter amendment that followed the FTX collapse has been canceled.

It is reported that lawmakers agreed to an amendment proposed by Senator Daniel Labaronne, which suggested abolishing the mandatory licensing and allowing crypto companies to register with the Financial Markets Authority according to the provisions already outlined in the EU Crypto Assets Market Regulation. This includes requirements for governance, reporting to regulators, and fund segregation. Companies that are already registered under existing anti-money laundering provisions will be able to continue operating until the transition period provided by MiCA ends, which could be in 2026. (source link)