The Autorité des Marchés Financiers （AMF） has begun accepting applications for crypto-asset service provider authorization, in advance of the MiCA Regulation taking effect.
Points
- AMF starts accepting crypto-asset service provider applications.
- MiCA Regulation requires authorization for crypto services starting December 2024.
- Transition period for existing providers until June 2026.
- MiCA aims to enforce anti-money laundering measures, cyber security, and standards of conduct.
With six months remaining before the European MiCA Regulation’s provisions on crypto-asset services come into effect, the Autorité des Marchés Financiers （AMF） has started accepting applications for authorization to operate as a crypto-asset service provider. This authorization will be required from July 1, 2024.
The MiCA Regulation, set to be enforced on December 30, 2024, mandates prior authorization for all entities offering crypto-asset services within the European Union. These services include managing and safeguarding crypto assets, running trading platforms, converting crypto assets to funds, and more.
Providers must adhere to rules covering anti-money laundering measures, cyber security requirements, and standards of conduct. Specific obligations will vary depending on the services provided.
France’s PACTE Law regime will be replaced by MiCA, allowing existing providers a transition period until June 30, 2026, to obtain authorization. However, during this transition, providers will not benefit from the European passport, necessitating compliance with regulations in other Member States.
The AMF advises interested parties to begin preparations early to meet the new European framework’s requirements. Detailed information on MiCA Regulation and application procedures is available on the AMF website.
解説
- The early acceptance of applications by AMF indicates proactive measures to ensure a smooth transition to MiCA regulations.
- MiCA’s comprehensive approach to regulation aims to enhance the security and integrity of the crypto industry in the EU.
- The transition period allows existing providers to adapt to new regulations without disrupting their operations.
- Compliance with MiCA will likely lead to increased investor confidence and market stability within the European crypto sector.
- Early preparation and adherence to regulatory standards will be crucial for providers to continue operating seamlessly under MiCA.