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[ammu40]

French lawmakers pass bill to impose stricter licensing rules on cryptocurrency firms in line with proposed EU standards. The bill received 109 votes in favor and 71 against in the French National Assembly and has already passed the Senate. If signed into law by President Emmanuel Macron, the new legislation will require French-based cryptocurrency service providers to comply with stricter anti-money laundering rules and disclose more detailed risk and conflict of interest information. However, the new rules will not apply to the 60 crypto firms registered with the Financial Markets Authority (AMF). The new rules would only apply to crypto firms that register from July onwards. The legislation was initiated by a member of the French Senate's finance commission in December 2021.

 

[btaliat]

The outcry of many because of illegal activities that is trying to overshadow cryptocurrency calls for this. There should be strict law which will make the crypto firm to tighten up their security to ensure security of the people's money.

 

[Gamer01]

They know what can happen in such things to their country men and they are dealing with it intelligently even if you might not like a country but where they are taking intelligent actions you are bound to and need to appreciate to show respect.

 

[Japhnet]

Well, i believe that not just the newly registered firms should be under this enforcement, rather the entire crypto firms in the country. This is a good measure to curb the act of money laundering and anonymous shady deals in the country.

 

[Japhnet]

They know what can happen in such things to their country men and they are dealing with it intelligently even if you might not like a country but where they are taking intelligent actions you are bound to and need to appreciate to show respect.

Yeah. It's good that there are welcoming cryptocurrency. I believe the EU has thw capacity to innovate the crypto space to reduce criminal transactions. The use of crypto may however disrupt the use of the Euroes.

 

[magnus2022]

I think the step taken by French government is impressive and will help to consolidate cryptocurrency companies and save the masses from been dumped by poor companies that does not have much financial muscles to survive critical economic pressures. This measure will definitely help to curtail exploitation from dubious crypto exchanges.

 

[Wisdom01]

I think France introducing stricter licensing rule would really help to prevent and curb cryptocurrency exchange scams and more , this is really s very big move , hopes other countries really adopt this

 

[btaliat]

I am sure other countries will start copying the same gesture. This is because there is much good things to learn from stricter laws that have just been introduced. It will not only prevent traders from being scammed easily, it will make people to believe in crypto.

 

[Wisdom01]

The stricter the law based on my assumption and licensing rules , the more complex things could actually be , they might be introducing stricter laws due to a lot of things and this should be properly considered

 

[Gen Evie]

France has made cryptocurrency not only legal, but more regulated than almost any other country in the world. They consider Bitcoin and other cryptocurrencies to be digital assets. It is taxed in the same manner as stocks.

 

[Gamer01]

This is good because those people who could have done tax avasion will now be under the pump and they will have to pay taxes as well so they will now the fact that earnings comes with taxes as well .

 

[Wisdom01]

The strict licensing rules are actually important , they really needs to do this to actually make sure that those that are signing up on the platform or building exchange platform should be atleast legit

 

[Wisdom01]

France has made cryptocurrency not only legal, but more regulated than almost any other country in the world. They consider Bitcoin and other cryptocurrencies to be digital assets. It is taxed in the same manner as stocks.

Yeah France really contributed more to the regulation of cryptocurrency scheme , they actually make it more regulated as they have seen the benefits of introducing regulation and why it should be considered

 

[Gamer01]

Definitely when things will be made regulated there wont be any issues like Scam and fraud projects coming out and there will not be at all any of the complete prevail of the law in the society which is good thing indeed .

 

[IB DD]

It is a great move from France to try to regulate the crypto sector than trying to stifle it completely. I think this would boost their financial system while ensuring that the crypto sphere is devoid of practices that could hurt the citizens and the economy.

 

[Wisdom01]

I believe that France are actually placing consideration on regulating the crypto currency sector , they make refrence on that , place consideration on the regulation aspect and how they could make the system work better off

 

[Gamer01]

they must have understood that crypto is something which can never be outright banned but it can only be regulated so they are taking the right steps with the right approach it makes them a possible option of success with the crypto as a tool to drive revenue into country .