PSAN and regulation: The French crypto sector is breathing (temporarily)

PSAN and regulation: The French crypto sector is breathing (temporarily)


As concern has been mounting in recent weeks at the prospect of a potentially devastating vote for the French crypto sector, the National Assembly finally voted today in favor of a balanced evolution of the PSAN status, offering more framework to industry, while avoiding the trap program of a chokehold.

Reportage rating pair ADAN (Association for the Development of Digital Assets), very mobilized on the subject in recent weeks, we learn that the vote scheduled for today concerning the evolution of the status PSAN (digital asset service provider) suggests a new framework less anxiety-provoking than the sector feared.

Yes hemandatory agreement initially retained (which would have condemned as it stands both any newcomer, but also seriously in difficulty the current PSANs by the cumbersomeness of its banking administrative conditions and the need for professional insurance which is currently impossible to obtain) is set aside In return, the conditions of access of new claimants to the PSAN are reinforced in reasonable proportions (segregation of assets, declarations of potential conflicts of interest, rating).

All that remains now is to wait for the results of the parliamentary shuttle with the Senate so that this text is validated. With the best results – at least temporarily – the risk of stifling innovation in a context where France has recently renewed its ambition to become a “global crypto hub”.






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