France's President Emmanuel Macron (L) welcomes CEOs for a roundtable at the 6th edition of the Choose France Summit at the Chateau de Versailles, outside Paris on May 15, 2023. Recently, France has welcomed Crypto Companies to avoid US regulators. PHOTO BY: LUDOVIC MARIN/Getty Images
French officials have been touting a regulatory framework that offers relative predictability for crypto companies, especially those fleeing regulatory uncertainty in the U.S.
France currently boasts around 74 registered crypto companies. That number could surge to 100 as firms seek to anticipate the EU’s Markets in Crypto Assets rules, which were formally signed off by ministers on Tuesday.
Blockchain and cryptocurrency Binance founder and CEO Chinese-born Canadian Changpeng Zhao, also known as CZ, poses during an interview at the technology startups and innovation fair in Paris on May 16, 2022. ERIC PIERMONT/GETTY IMAGES
Benoît de Juvigny, Secretary General of the Autorité des Marchés (AMF), indicated that France would “welcome American players” looking to “benefit, in the very short term” from the French regime and, from the start of 2025, from European arrangements, CoinDesk reported.
This offer could be tempting for crypto firms as they continue to navigate the shifting regulatory landscape in the U.S., where the U.S. Securities and Exchange Commission is cracking down on crypto exchanges.
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