#2024-936Order No. 2024-936 of October 15, 2024, relating to Crypto-Asset Markets
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This French law revises multiple codes to align with the European regulation on crypto-asset markets. It changes terminology, redefines financial instruments, clarifies the roles of market entities, and specifies requirements for authorization and registration of crypto-asset service providers. Businesses handling crypto-assets need to comply with new procedures to continue operations legally.
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Key Changes
- Terminology updated from 'digital assets' to 'crypto-assets'
- Definition and handling of crypto-assets aligned with EU regulations
- Amendments made for authorization of crypto-asset service providers
Obligations
What this law requires
Crypto-asset service providers must obtain authorization or approval in accordance with Article 59 of EU Regulation 2023/1114 to legally provide services on crypto-assets
Entities offering crypto-assets to the public or requesting admission to trading must be approved under EU Regulation 2023/1114, except when the announcer is authorized under the regulation's provisions
Financial institutions providing crypto-asset services must comply with consumer protection requirements under Articles L. 222-16-1 and L. 222-16-2 of the Consumer Code
Update terminology from 'digital assets' (actifs numériques) to 'crypto-assets' (crypto-actifs) throughout all relevant regulatory frameworks and internal documentation
Replace terminology 'shared electronic recording device' with 'distributed ledger technology' (DLT) in all references under the Monetary and Financial Code