Bitcoin Exchanges need ACPR approval says regulator

Europe France Regulations
France's Crypto Regulatory Task Force has released a report saying that regulating cryptocurrencies "is neither necessary or desirable"

A recent statement from France’s bank regulatory body, The French Prudential Supervisory Authority (ACPR), clarifies bitcoin exchanges status in the country and points out that all exchanges require licensing.

According to ACPR exchanges are no different from any other payment service and need the Authority’s approval.

Furthermore, the statement included the standard set of warnings about cryptocurrencies lack of regulations, legal protection, high volatility, risk of abuse by criminals and potential taxation issues.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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