France Considers Blocking Crypto Firms Using EU ’Passporting’ Licenses
France's financial regulator, the AMF, may reject crypto licenses issued by other EU member states, citing concerns over regulatory arbitrage. President Marie-Anne Barbat-Layani accused firms of 'regulatory shopping' across Europe to exploit looser standards.
The MOVE challenges the MiCA framework's core principle of single-market access. France has joined Italy and Austria in pushing for centralized oversight by ESMA, warning of gaps in current supervision.
While calling the license-blocking option an 'atomic weapon,' Barbat-Layani acknowledged its potential damage to EU market unity. The AMF's hardline stance reflects growing tensions over crypto regulation harmonization.