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We are happy to inform all Bitpanda users, especially those living in France, that on 18 December Bitpanda will be registered with the AMF and therefore regulated in France. This means that our services are registered with funders Autorité des marchés (AMF), the French Financial Markets Authority.
As Europe’s leading neobroker on a mission to democratize the complex world of investment, Bitpanda has always been adamant about fully complying with legislation and regulatory measures in all the markets in which we operate. We believe that regulatory measures show a commitment from governments to development. Innovative fintechs is a serious competitor with the traditional financial industry.
France as a benchmark
France is taking a special position as a frontrunner in this space, having a common European regulatory framework for digital assets at work. As Bitpanda is an entity that offers services to consumers with a French residence enabling them to hold, buy and sell digital assets such as Bitcoin, registering with the AMF is a requirement for full compliance.
Legislation in France regarding ICOs with digital assets came into force in 2019 in accordance with PACTE law, which was passed to protect consumers and provide a positive framework for ethical entities to exist and grow. PACTE law pioneered legislation in the European crypto space, allowing for recognition of serious actors in the industry and is a milestone in advancing financial innovation and technology.
With the implementation of the EU’s 5th Anti-Money Laundering Directive (AML5), PACTE’s law regarding the registration of digital asset service providers was amended.
I am a consumer with a French residency. How does this affect me?
In practice, nothing will really change for you. As a registered Digital Asset Service Provider with the AMF, Bitpanda proves that we are a legitimate entity with a right to operate in France and we are concerned about being as transparent and compliant as possible, thereby increasing consumer confidence and trust .