France's financial regulator has put Binance in the spotlight as it continues to navigate the complex landscape of cryptocurrency regulations. According to the results published in the material, the Autorité des Marchés Financiers (AMF) has identified Binance among 90 crypto firms that are currently operating without the required licenses under the new Markets in Crypto-Assets Regulation (MiCA).
AMF Issues Formal Warning to Cryptocurrency Companies
On January 13, 2025, the AMF issued a formal warning to these companies, emphasizing the importance of compliance with the upcoming regulations. The deadline for obtaining the necessary licenses is set for June 30, 2025.
Consequences for Non-Compliance
Firms that fail to meet this requirement, including Binance, could face significant consequences including the potential cessation of operations starting in July. This move underscores the increasing scrutiny and regulatory pressure facing the cryptocurrency industry in Europe.
A recent massive withdrawal from Binance has raised eyebrows in the crypto community, coinciding with regulatory scrutiny highlighted by France's financial regulator. For more details, see more.
