Hervé Maurey, a member of the Senate’s influential finance commission, has proposed an amendment to legislation to eliminate a clause that would enable registered cryptocurrency companies to operate domestically without a full regulatory licence until 2026.  

His proposal would force companies to secure a licence from the Autorité des Marchés Financiers (AMF), the French regulator, from October next year. Unlike registration, a licence provides consumer protection and requires companies to disclose more information pertaining to their financial health and systems of control. About 50 crypto companies are registered but none have yet been granted a licence.