The French National Assembly has reportedly passed a bill relating to stricter licensing rules for new crypto companies to align with proposed EU standards. The bill mandates France-based VASPs to adhere to stricter anti-money laundering regulations, segregate customer funds, provide more detailed risk and conflict of interest disclosures, and comply with new reporting guidelines to regulators. However, the law does not apply to the 60 crypto companies already registered with the Financial Markets Authority (FMA). The bill is awaiting President Emmanuel Macron’s approval and would only apply to crypto companies that register from July 2022 onwards.
Source: https://cointelegraph.com
