Approval: the big challenge facing crypto start-ups
In addition to the deteriorating economic climate, obtaining authorisation, the timetable for which could be accelerated in France, is a real challenge for many European crypto players.
It's been a long time since the French ecosystem has been so up in arms, to put it mildly! For the past few weeks, some and others have been denouncing in the media and on social networks an "unprecedented" threat to the sector.
The object of this anger?
A proposed law that plans to speed up the timetable on the licensing requirement for French companies operating in crypto, the so-called "PSANs", i.e. "digital asset service providers"!
Today, there are 60 PSANs in France, including Coinhouse, StackinSat, Forge (Société Générale's crypto subsidiary) and the biggest platform on the planet, Binance.
In Europe, there are more than 150, according to our calculations. Italy leads the way with just over 70 PSANs, but the procedure for obtaining them is much more flexible. Germany, on the other hand, has fewer than 10...