France solidifies its position as Europe's leading crypto hub as four major platforms—OKX, Gemini, Jobchain, and Cifralfabeto—receive PSAN (Digital Asset Service Provider) registration from the AMF (Autorité des Marchés Financiers). This milestone follows earlier approvals for Binance, Crypto.com, and Société Générale's SG-Forge, highlighting France’s progressive regulatory framework.
France Emerges as Europe’s Crypto Stronghold
The latest PSAN approvals underscore France’s strategic advantage in the cryptocurrency regulatory landscape. Key factors driving this leadership:
- Clear Regulatory Framework: France offers one of the most balanced crypto regulations in the EU, outpacing broader MiCA (Markets in Crypto-Assets) implementation expected in 2024.
- Institutional Confidence: Major players like OKX and Gemini have established local subsidiaries, signaling long-term commitment.
- Global Appeal: With U.S. regulators increasing scrutiny, France attracts firms seeking stability. Notably, Binance’s $4B settlement with U.S. authorities contrasts with its seamless French compliance.
👉 Explore how OKX leverages its French approval for global growth
Why PSAN Approval Matters
PSAN registration allows platforms to legally offer crypto trading, custody, and exchange services in France. Benefits include:
- Enhanced Trust: AMF oversight boosts consumer confidence.
- Market Access: Gateways to the EU’s 450M+ potential users.
- Innovation Support: France’s proactive stance fosters R&D in blockchain and Web3.
Spotlight on OKX and Gemini
OKX’s Strategic Move
- Established a French subsidiary to align with local regulations.
- Positioned France as a global hub for its operations.
- Plans to expand services, including institutional-grade custody and DeFi integrations.
Gemini’s European Expansion
- Follows its Irish VASP registration in 2023.
- Targets France’s retail and institutional investors with compliant staking and trading products.
👉 Discover Gemini’s EU-focused crypto solutions
FAQ: PSAN Approval and France’s Crypto Ecosystem
Q: How does PSAN differ from MiCA?
A: PSAN is France’s national framework, while MiCA is an EU-wide regulation. PSAN-approved firms will eventually transition to MiCA compliance.
Q: Why are U.S. firms like Gemini expanding in France?
A: France’s regulatory clarity contrasts with the U.S.’s aggressive enforcement, making it a safer growth market.
Q: What services can PSAN-registered companies offer?
A: Crypto trading, custody, staking, and token issuance—all under AMF supervision.
The Future of Crypto in France
France’s pro-business policies and tech talent pool position it as a gateway for crypto innovation. With PSAN approvals accelerating, expect:
- Increased institutional adoption (e.g., SG-Forge’s crypto custody).
- Growth in DeFi and tokenized assets.
- Partnerships between traditional finance and crypto platforms.
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### Key Adjustments:
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2. **Content Depth**: Expanded with regulatory context, corporate strategies, and future trends.
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