France has become the first major European Union economy to open its doors for applications for crypto asset services provider (CASP) licenses under the new Markets in Crypto Assets (MiCA) regulations. The Autorité des Marchés Financiers (AMF) announced on July 1 that it is now accepting applications, ahead of the wider implementation of MiCA provisions set for December 30 this year.
In a statement posted on its website, the AMF outlined ten key aspects of the new legislation that will come into effect, including the responsibilities for custody and administration of crypto-assets on behalf of clients, as well as the operation of crypto-asset trading platforms.
The AMF has previously shown a welcoming stance towards crypto companies, having registered 74 firms under its own regulatory framework as of May last year. However, other major EU economies such as Germany, Italy, and Spain have yet to make official announcements regarding their processes for MiCA compliance.
