Bitvavo, the Dutch cryptocurrency exchange, obtains regulatory approval from the French AMF, enabling expansion into the French market.
An important step forward in Bitvavo’s European development has been taken with the regulatory permission of the French Autorité des Marchés Financiers (AMF) for critical regulatory matters. With this clearance, the Dutch cryptocurrency exchange can now serve the growing demand for digital assets in the region by expanding its range of crypto products and services to the French market.
CEO of Bitvavo Mark Nuvelstijn stated: “Registering with the French AMF is a significant step forward for us. We are eager to introduce our customer-focused product to the French market. As part of our goal to take the lead in the European cryptocurrency exchange market, we are launching in France.”
Getting Around Europe’s Crypto Scene
Bitvavo, which has around 1.5 million members in Europe, strives to provide a reliable and safe platform for cryptocurrency trading and investing. The Austrian Financial Market Authority just authorized the cryptocurrency exchange. Bitvavo is now able to deliver virtual asset services in Austria thanks to this regulatory approval.
The success of Bitvavo in Austria is a result of the strict cryptocurrency laws in Europe. Building on its achievements in the Benelux area, the organization is navigating the intricate regulatory landscape of the continent. Notably, the German Financial Supervisory Authority is still reviewing Bitvavo’s application.
But Bitvavo’s path hasn’t been free of legal difficulties. Bitvavo and other Dutch cryptocurrency companies were subject to illegal supervision expenses, according to a Rotterdam court’s October ruling. This victory overturned earlier regulatory fines and signaled a substantial change in the Dutch government’s approach to cryptocurrency supervision.
More Crypto Companies Get French Approval
Bitvavo intends to recover a significant portion of Digital Currency Group (DCG)’s €280 million debt in addition to the regulatory win. We expect to repay clients’ assets in cash, digital assets, and DCG convertible preferred equity notes. This comes after DCG-owned cryptocurrency lender Genesis filed for bankruptcy.
Among the numerous cryptocurrency exchanges that have received regulatory permission in France is Bitvavo. After being approved by the Autorité de Contrôle Prudentiel et de Résolution as a Digital Asset Service Provider, Crypto.com officially launched in the French market in September. With this authorization, Crypto.com is now one of the few platforms authorized to provide services linked to cryptocurrencies in France.
