Dutch Crypto Exchange Gets Green Light to Operate in France
Bitvavo expands to France with AMF approval and joins a growing list of crypto firms in the EU focusing on market maturity and regulation compliance.
Bitvavo, a Dutch cryptocurrency exchange, is expanding its services to France after getting approval from France's financial authority, the AMF. This move follows their recent expansion into Austria and Italy, and they also intend to enter more European markets.
Their CEO Mark Nuvelstijn announced their excitement about offering their services to French users, he also spoke at length about the growth of cryptocurrency in France as reports state that more French adults are beginning to invest in crypto.
With Bitavo having about 1.5 million customers in the Benelux region, it emphasizes a gradual expansion strategy. In an interview, Nuvelstijn stressed the importance of focusing on key markets rather than rushing into all of Europe.
Upcoming EU crypto regulations, MiCA, are also on Bitvavo's radar. These rules, effective from 2024, are expected to unify crypto regulations across Europe and improve market standards. Nuvelstijn sees this as beneficial for market maturity and cross-border business.
Other financial firms like Société Générale and Bitstamp have also received regulatory approvals in France.Binance's French arm is still operational, even with ongoing investigations into its compliance practices.
