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Cryptoassets & Blockchain Legal News

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Bitcoin Exchanges need ACPR approval says regulator

January 29, 2014 by Ashley MAO

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.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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