Crypto Exchange Bitstamp Ready To Break Through The French Market

Key Points:

• In France, Bitstamp has obtained formal registration with the Autorité des marchés financiers.
• When registering a business in France, regulations pertaining to money laundering and competent, recognized management are both examined.
• The exchange joins Binance, Bitpanda, and Société Générale in obtaining approval from one of the EU’s most complex regulatory frameworks.

Luxembourg-based cryptocurrency exchange Bitstamp obtained DASP (digital asset service provider) registration from the Autorité des marchés financiers (AMF) on Wednesday. This registration brings the company to the 4 million customers in the universe of regulated platforms in France and allows it to exercise on the territory.

Bitstamp has officially registered with the AMF in France, according to the regulator’s website.

“France represents one of the most important markets for Bitstamp in Europe. The crypto-asset market has been experiencing a major turning point for a few months now and, as a pioneering player, we are keen to be a driving force in the adoption of crypto-currencies from a wider public,” declared the French Jean-Baptiste Graftieaux, CEO of Bitstamp.

As a reminder, introduced by the Pacte law in 2019, DASP registration is mandatory for a crypto player in certain areas. The AMF and the Prudential Supervisory and Resolution Authority (ACPR) verify, in particular, that the players comply with the regulations relating to the fight against money laundering and the financing of terrorism (LCB/FT).

There is also the possibility of obtaining approval from the AMF, which is optional for the time being and which requires compliance with more criteria (for the moment, no DASP approval has been given by the AMF).

Founded in Slovenia in 2011, Bitstamp is one of the oldest cryptocurrency exchanges. But it remains to this day less well known than other crypto giants like Binance and Coinbase. In France, it, therefore, still has a whole audience to conquer, and thanks to the registration, Bitstamp will be able to actively solicit this target.

The exchange has registered under one of the most complex crypto regimes in the European Union, joining Binance, Bitpanda, and the Forge division of Société Générale.

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