In France, the upper house of parliament (Assemble National) made a vote about crypto and company licenses. The recent decision will let crypto companies that are already operating keep doing so without a full license until the EU's latest MICA crypto regulations go into effect. In practice, it means that France won't rush to put a strict licensing system in place. Instead, the French government will wait for an EU-wide ruling to come out.
This decision is partly based on the recent FTX scandal and collapse. The French lawmakers want to ensure national procedures aren't creating any new loopholes and the recent decision is a result of intensive negotiations between politicians, crypto business and cryptopreneurs.
Many cryptopreneurs have previously voiced concerns that the requirements to secure a license, including being insured and meeting cybersecurity norms, impose unreasonable burdens on the industry and regulators.
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