France is set to see a significant increase in the number of registered companies in the crypto space as the new EU crypto legislation, known as MiCA, is implemented. According to officials from the Financial Markets Authority, over 100 companies could be registered in France as a result.
MiCA, or Markets in Crypto-Assets, is the EU’s attempt to regulate the rapidly evolving cryptocurrency market. The legislation aims to provide a legal framework for crypto-assets and exchanges, and establish rules on investor protection, market abuse, and supervision.
In light of the newly agreed-upon legislation, the Financial Markets Authority has stated that it expects to see many new crypto companies be registered in France. This comes as no surprise, considering France’s longstanding commitment to creating a welcoming environment for innovative startup companies.
However, while the new legislation is apparently attracting more companies to France, it’s worth noting that it could also lead to increased regulatory scrutiny. This may dissuade some investors from entering the crypto market, as they may be hesitant to engage in a space that is now highly regulated.
As the market continues to evolve, it will be interesting to see how countries like France adapt to the changing landscape of the cryptocurrency industry. One thing is for certain, though: With the steady growth of the crypto space, regulations will likely only become more stringent.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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