The AMF publishes the summary of responses received to its Discussion Paper on Decentralised Finance
Executive Summary
The Autorité des Marchés Financiers (AMF) has published a summary of stakeholder responses to its June 2023 Discussion Paper on Decentralised Finance (DeFi), analyzing regulatory challenges posed by automated, decentralized crypto-asset activities. This matters for compliance professionals as it signals the AMF's ongoing commitment to developing a balanced DeFi framework amid MiCA's implementation, potentially shaping future supervision of decentralized protocols while emphasizing investor protection and innovation. #
What Changed
No immediate regulatory changes or new requirements are introduced; this is a non-binding summary of consultation feedback from July 2024, intended to inform future discussions rather than enact rules. It highlights stakeholder views on DeFi's challenges, such as decentralization's impact on traditional oversight, with the AMF planning continued ecosystem engagement to outline proportionate responses. Related updates include clarifications on DASP transitions to MiCA CASP licensing (e.g., abolition of new DASP registrations post-Ordinance 2024-936) and alignment with EBA AML/CTF guidelines for crypto transfers. #
What You Need To Do
- Monitor and engage
- MiCA compliance
- Assess decentralization
- Update policies
Key Dates
Compliance Impact
Urgency: Medium - This consultation summary does not impose new obligations but underscores evolving DeFi scrutiny within MiCA's firm deadlines (e.g., June 2026 transition end), making it critical for crypto firms to align now to avoid sanctions like DASP withdrawals. It matters for maintaining competitiveness in France's innovation-friendly regime, especially with AMF's 2026 focus on MiCA converg
Who is Affected
Summary
Crypto-assets Innovation The AMF publishes the summary of responses received to its Discussion Paper on Decentralised Finance