Officials in France are boasting of the regulatory certainty they can offer, as U.S. enforcers wage a fierce – if not entirely successful – war on crypto.
MiCA, which lets wallet providers and exchanges operate across the EU with a single license, “will allow this sector to go to the next gear in terms of regulatory requirements,” said Marie-Anne Barbat-Layani, adding that France’s Financial Markets Authority (AMF), the regulator which she chairs, is “resolutely open to innovation.”
Barbat-Layani contrasted France’s situation with that across the Atlantic.
“Some of our peers, notably the U.S. SEC [Securities and Exchange Commission], have launched litigation strategies – strategies of which the successes aren’t totally clear – but which seek to treat crypto as a traditional financial instrument,” she said. “It’s a different choice to that made in Europe.”
‘Enforcement 40’ for 2020
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