Get the scoop on finance - sign up for mobile alerts
Regulators
| On
December 22, 2023

USDC Issuer Circle Secures ‘Conditional’ Registration To Operate in France After Coinbase Receives Green Light

By Rhodilee Jean Dolor

Financial markets regulators in France just granted USDC stablecoin issuer Circle a conditional registration as a Digital Asset Service Provider (DASP).

The French Financial Markets Authority (AMF) requires DASPs to register to operate as a crypto trading platform or to provide services related to digital asset custody, buying and selling of cryptocurrencies in a legal tender and trading of digital assets against other digital assets.

ADVERTISEMENT

The AMF grants the registration based on the repute and competence of the firm’s managers and beneficial owners as well as compliance with money laundering and terrorist financing regulations.

Circle says the conditions of its registration will be lifted and it can begin its operation in France once it secures an Electronic Money Institution license as a payment service provider (PSP) or agent of a PSP. Payments industry veteran Coralie Billmann will also spearhead its licensed operations in the country subject to regulatory approval.

Says Circle CEO Jeremy Allaire,

“The issuance of this conditional DASP registration in France marks a significant early milestone as we work towards establishing our European regulatory platform. 

ADVERTISEMENT

With Coralie Billmann joining Circle, her deep market expertise and leadership will be instrumental in furthering our regulatory efforts and deepening our connections in France.” 

The development comes after major US-based crypto exchange Coinbase secured the green light to operate in France.

“Coinbase has obtained its VASP registration in France, known as the ‘PSAN – Prestataire de Services sur Actifs Numériques’, and issued by the AMF (Autorité des Marchés Financiers). This registration will allow Coinbase to offer our full suite of retail, institutional, and ecosystem products and services to users in France.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney