American lawmakers and regulators continue to compete in their creative efforts to propose anything but comprehensive game rules for the crypto industry.
to more cryptocurrencies, saying investors need more protection. The proposed rule would require written agreements between advisers and custodians, add requirements for foreign institutions serving as custodians, and explicitly extend the safeguard rules to discretionary trading.The French National Assembly has voted to legislate stricter licensing rules for new cryptocurrency firms to harmonize local laws with proposed European Union standards.
If passed, the new law would oblige French-based cryptocurrency service providers to comply with stricter Anti-Money Laundering rules, show that customer funds are segregated, adhere to new guidelines on reporting to regulators, and provide more detailed risk and conflict of interest disclosures as a means to strengthen consumer protection.
The free zone will be dedicated to digital and virtual assets service providers in emerging technologies, such as the metaverse, blockchain, utility tokens, virtual asset wallets,
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