France is taking a firm stance on the regulation of cryptocurrency firms operating within its borders, signaling a potential move to block companies licensed in other European Union (EU) nations from conducting business domestically.

This latest initiative, led by the head of France’s financial watchdog, Marie-Anne Barbat-Layani, is part of a broader push to shift regulatory oversight to the European Securities and Markets Authority (ESMA), based in Paris.

France Pushes For Centralized Crypto Oversight

According to an exclusive coverage made by Reuters on Monday, the urgency of this move stems from concerns that under the EU’s new regulatory framework, known as the Markets in Crypto-Assets (MiCA) regulation, crypto companies are gravitating towards jurisdictions with more lenient

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