French regulator imposes cybersecurity rules for crypto firms
The French financial regulator, the Autorité des marchés financiers (AMF), has announced changes to its rules governing digital asset service providers (DASPs) in France. The amendments aim to incorporate upcoming European Union regulations on crypto-assets while enhancing registration requirements for crypto service providers. From January 2024, DASPs seeking registration will face mandatory enhanced requirements including implementing cybersecurity and internal control systems. Existing registered DASPs are grandfathered under the old rules . You might also like: Societe Generale’s crypto division secures license in France The AMF has aligned its licensing rules with the European Markets in Crypto-Assets (MiCA) regulation, enabling licensed French DASPs to readily become MiCA-compliant crypto -asset service providers (CASPs). AMF states the rule changes will facilitate a smooth transition to MiCA oversight when the EU-wide framework takes effect in 2024. Aligning Frenc...