Crypto exchange Gemini has been registered as a Digital Asset Service Provider (DASP) in France by the l’Autorité des Marchés Financiers (AMF), the French financial markets regulator, according to a Jan. 17 statement. The registration would enable it to cater to retail and institutional customers in France. Moreover, the regulatory milestone would also grant its users access to a diverse range of 70 cryptocurrencies through Gemini’s comprehensive services, including its website, mobile app, Gemini eOTC, and the ActiveTrader platform. Gillian Lynch, Gemini’s Head of Ireland and EU, said the fir ..read more

The Russia-linked cryptocurrency exchange Bitzlato announced a temporary halt on certain withdrawal requests on Dec. 27, despite having had its assets seized by French authorities in January. The company wrote in a Telegram message: “… We are faced with the need to suspend special balance withdrawals and technical support. This is a temporary measure to prepare for and go through the upcoming court hearings regarding the seizure of user assets in France.” Bitzlato did not say which transactions are classified as “special balance withdrawals,” nor did it state whether the withdrawal freeze is ..read more

Stablecoin issuer Circle announced on Dec. 21 that it had received conditional registration under France’s cryptocurrency laws. Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy, said: “The selection of France as our European regulatory base builds on the country’s clear rules for responsible innovation in fintech and digital assets, while leveraging France’s dynamic entrepreneurial, technological, banking and financial services ecosystem.” Circle said that it is now conditionally registered as a Digital Asset Service Provider (DASP) or Prestataire de Service sur Acti ..read more

Coinbase has registered to provide cryptocurrency services in France, according to an announcement from the company on Dec. 21. In an accompanying blog post, Coinbase stated that it has received virtual asset service provider (VASP) approval from France’s Autorité des marchés financiers (AMF), allowing it to operate within the country. That registration is also known as Prestataire de Services sur Actifs Numériques (PSAN). Coinbase noted that it can now provide retail and institutional services including crypto custody, crypto-to-crypto trading, and buying and selling crypto in cash. Daniel Se ..read more

Paris-based artificial intelligence startup Mistral AI became the latest company within the sector to reach a unicorn status after raising €385 million, or $415 million, in its second funding round in seven months. The funding, led by investors such as Andreessen-Horowitz and LightSpeed Ventures, catapults the startup’s valuation to roughly $2 billion, placing it among the top AI companies in the world. In June, Mistral AI raised approximately €105 million (around $113 million) at a valuation of $260 million. Mistral AI’s success underscores the sustained interest AI companies have generated d ..read more

Société Générale, France’s third-largest bank, is poised to introduce a stablecoin named EUR CoinVertible (EURCV) on Bitstamp, a Luxembourg-based crypto exchange, the Financial Times reported on Dec. 6. Bitstamp’s website shows that the stablecoin has been listed on the platform, but trading has yet to begin as of press time. What is EURCV? EURCV is an Ethereum-based Euro-pegged stablecoin whose reserves will be fully collateralized by cash reserves and high-quality securities. This would allow bank customers broad access to the emerging digital asset market. Current Data from Etherscan shows ..read more

The investment landscape in France is witnessing a significant shift, with an increase in interest in crypto among younger citizens. A recent study published by the Autorité des marchés financiers (AMF) and conducted by Audirep reveals intriguing insights into the evolving behaviors and preferences of new retail investors in France, with a notable emphasis on crypto-assets. The survey, conducted in spring 2023, provides a comprehensive overview of the emerging investment patterns, especially since the onset of the COVID-19 pandemic. Nearly one in four French adults (24%) are engaged in investm ..read more

French regulators recently raided a corporation involved in anticompetitive activities within the graphics card industry. A Sept. 28 report from The Wall Street Journal identified the corporation as Nvidia. In a Sept. 27 press statement, France’s antitrust agency Autorité de la Concurrence revealed it received authorization from a judge to raid “the premises of a company suspected of having implemented anticompetitive practices in the graphics cards sector.” Meanwhile, Autorité stated that its raid of the company does not “pre-suppose the existence of a breach of the law which could be imputed ..read more

The Bank for International Settlements (BIS), in collaboration with the central banks of France, Singapore, and Switzerland, has successfully concluded the testing phase of Project Mariana, an initiative focused on the cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs.) This milestone achievement demonstrates the potential of decentralized finance (DeFi) concepts and public blockchain-based solutions to reshape financial market infrastructures. Developed by three BIS Innovation Hub centers, Banque de France, the Monetary Authority of Singapore, and the Sw ..read more

French social media influencers, including those influencing the crypto industry, must obtain certifications in the Responsible Influence in Financial Advertising program before advertising a financial product, according to a Sept. 7 press statement. The Responsible Influence Certificate in Finance was created by the Autorité des Marchés Financiers (AMF) and the Autorité de Régulation Professionnelle de la Publicité (ARPP) to test influencers on the new law regulating social media influencers. The law, which took effect on June 1, mandates influencers to disclose sponsored content on their pag ..read more