France is considering implementing a comprehensive licensing system for cryptocurrency companies in October next year, citing the bankruptcy of FTX

ChainCatcher news, Hervé Maurey, a member of the French Senate Finance Committee, proposed an amendment on Tuesday that aims to require any provider wishing to engage in digital asset services to register in France by October 2023 at the latest.

The amendment states that the recent bankruptcy of FTX highlights the inherent risks of any investment in crypto assets. France currently has a two-tier mechanism divided into mandatory registration and optional certification, allowing cryptocurrency companies to operate in the country without a full license until 2026. The amendment was passed in the Senate this week and will be submitted to the French Parliament next year. (Source link)