Rise in Digital Asset Mediation Cases in France
Rise in Digital Asset Mediation
The French stock market regulator, Autorité des marchés financiers (AMF), has observed significant changes in the digital asset landscape. A notable increase in digital asset-related mediation cases was recorded in 2022. This surge corresponds with a rise in the number of registered digital asset service providers (DASPs).
Annual Report Insights
The AMF's 2022 annual report introduced a dedicated section for digital assets, highlighting this growing sector. Although the total number of cases managed by the ombudsman slightly decreased from 1,964 in 2021 to 1,900 in 2022, there was a marked increase in digital asset mediation requests. These requests rose from 44 in the previous year to 54. More significantly, admissible cases increased from six to 17.
Growth in Digital Asset Service Providers
In tandem with the rise in mediation cases, the number of registered DASPs almost doubled, growing from 28 to 59 within the year. This growth reflects the expanding role of digital assets in the financial market and the increasing need for regulatory oversight and mediation.
Implications for the Financial Market
The upward trend in digital asset mediation cases and service provider registrations underscores the evolving challenges and opportunities within the digital asset sector. As digital assets continue to gain traction, regulatory bodies like the AMF play a crucial role in ensuring market stability and protecting investor interests. This development highlights the need for ongoing adaptation and vigilance in the regulation of digital assets.
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