France’s largest market regulator, AMF, said it supports global rules for decentralized finance (DeFi).
The European Union has formalized crypto regulation in recent months. The European Union, which officially enacted MiCA, received support from France. France has signaled that they will focus on crypto regulation under the MiCA.
AMF, which licenses crypto exchanges that want to operate in France, mentioned the DeFi side in a document it published. AMF stated that it stands behind the global rules in DeFi regulations.
French Regulator Addresses DeFi Regulations
Autorité des Marchés Financiers (AMF), the regulatory agency of France, has published a document on DeFi regulations. AMF touched upon the regulatory problems that became evident through the concept of decentralization introduced by the DeFi ecosystem. France’s regulator stated that it will support any DeFi regulation steps to be taken globally.
AMF is trying to define DeFi through smart contracts and DAOs. The document released by AMF points to potential DeFi risks and control situations.
AMF said the following on the subject;
“Due to the cross-border nature and reach of DeFi activities, the AMF also supports the development of a globally coordinated approach to regulation to ensure a global level playing field aimed at both protecting investors and fostering innovation.”
In a speech on DeFi last month, AMF Secretary General Benoit de Juvigny mentioned that categorizing and regulating the ecosystem would be complex.
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