France welcomes crypto companies seeking sanctuary from US regulators

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French officials have touted a regulatory framework that provides relative predictability for crypto firms, especially those shunning regulatory uncertainty in the United States.

France currently has about 74 registered crypto companies. That number could rise to 100 as companies seek to anticipate EU rules on crypto asset markets, which were formally approved by ministers on Tuesday.

Blockchain and cryptocurrency Binance Founder and CEO, Chinese-Canadian Changpeng Zhao, also known as CZ, poses during an interview at the Tech Startups and Innovation Expo in Paris on May 16 2022. ERIC PIERMONT/GETTY IMAGES

Benoît de Juvigny, secretary general of the Autorité des marchés financiers (AMF), indicated that France would “welcome American players” seeking to “benefit, in the very short term” from the French regime and, from the start of 2025, from Europeans, CoinDesk reported.

This offer could be tempting for crypto businesses as they continue to navigate the changing regulatory landscape in the United States, where the United States Securities and Exchange Commission is cracking down on crypto exchanges.

Crypto exchanges offer a wide range of options for buying and selling cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

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