Bitcoin trading platform Bitpanda gains AMF registration, now operating under French regulatory oversight
Bitpanda Registers with French Financial Authority, Reinforcing Commitment to Compliance and Consumer Protection
In a significant move, the Austrian-based cryptocurrency platform, Bitpanda, has registered with the Autorité des Marchés Financiers (AMF), the French financial authority. This registration marks a significant step forward for Bitpanda, as it will now be regulated under French law, offering increased protection, legal oversight, and compliance with EU-wide crypto regulations under MiCAR.
As a registered Digital Asset Service Provider with the AMF, Bitpanda is now in compliance with the updated PACTE (Plan d'Action pour la Croissance et la Transformation des Entreprises) law in France. The PACTE law, pioneering legislation in the European crypto space, aims to protect consumers and provide a positive framework for ethical entities in the digital asset industry.
The updated PACTE law continues to recognise serious actors in the digital asset industry and remains a milestone in promoting innovation and financial technology in France. The amendment concerns the registration of digital asset service providers and aims to ensure that legitimate entities are operating in the digital asset industry in France.
Bitpanda's registration with the AMF further demonstrates its commitment to transparency and compliance. This registration should increase user confidence and trust in Bitpanda's operations in France. The PACTE law was passed to provide a positive framework for ethical entities in the digital asset space, and Bitpanda operates in full compliance with regulatory measures in all markets.
France's legislation regarding Initial Coin Offerings (ICOs) with digital assets was introduced in 2019 through the PACTE law. The updated PACTE law has been amended to align with the 5th Anti-Money Laundering Directive (AML5) of the European Union, further reinforcing the regulatory framework for digital asset service providers in France.
France is a frontrunner in the digital asset regulatory space, and Bitpanda's registration with the AMF is a testament to this. Bitpanda offers services to users with French residency for digital asset trading, and this registration should enable secure and authorized crypto services within France and the EU.
In conclusion, Bitpanda's registration with the AMF is a significant development in the digital asset industry, reinforcing the company's commitment to compliance and consumer protection. This move should increase user confidence in Bitpanda's operations in France and the EU, and further cement France's position as a leader in the digital asset regulatory space.
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