France Encourages Crypto: Circle Registers For Digital Asset Services Provider, Coinbase As Virtual Asset Services Provider
Portfolio Pulse from Khyathi Dalal
France is encouraging crypto companies to establish operations within its borders by offering regulatory clarity. Circle has received conditional registration as a digital asset service provider from France's AMF, with the condition of obtaining a payment services provider license. Circle has appointed Coralie Billmann to lead its French operations. Coinbase Global Inc has been registered as a Virtual Asset Services Provider in France, allowing it to offer a range of crypto services. Both companies are positioning themselves ahead of the EU's MiCA legislation, which will be effective in 2024.
December 21, 2023 | 8:31 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Coinbase Global Inc has been registered as a Virtual Asset Services Provider in France, which will enable it to expand its services in the country and potentially increase its European market share ahead of the EU's MiCA legislation.
Coinbase's registration as a Virtual Asset Services Provider in France is a significant step for its European expansion, especially with the upcoming MiCA legislation. This regulatory approval is likely to be viewed positively by investors and could lead to increased trust and business in the region, potentially boosting COIN's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Circle, the issuer of USDC, has received conditional registration from France's AMF to operate as a digital asset service provider, contingent on obtaining a payment services provider license. This move could strengthen USDC's presence in Europe.
Circle's conditional registration in France is a positive development for USDC as it could lead to increased adoption and usage in Europe. The appointment of Coralie Billmann suggests a strong commitment to the French market. While USDC is a stablecoin and its price is pegged, the news could positively impact its market perception and usage.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80