Representatives of the cryptocurrency trading platform Luno announced that they had received a license to work with the provision of products and services in the digital currencies field from France’s financial regulator. The company assured that the site can now operate legally on the European state’s territory.
According to representatives of the organization, from now on, they will be able to offer their services to residents of France. Luno has received a Digital Asset Service Provider (DASP) license and is preparing to obtain additional approval from the Autorité des Marchés Financiers (AMF), the country’s stock market regulator. According to the company’s founders, it will be much more challenging to do this since no other office associated with cryptocurrencies has been able to do this.
Luno CEO Markus Swanepoel assured us that regulation is vital in crypto’s journey to mainstream adoption. The DASP registration is crucial to achieving the company’s strategic growth plans.
The experts recalled that Luno is part of the Digital Currency Group, which has more than $40 billion in cryptocurrency assets in trust and is one of the world’s largest investors in blockchain technology.
Among other things, in May 2022, lawmakers from France also granted a DASP license to the Binance crypto exchange after the trading giant announced a $102 million investment in the development of crypto technologies and a partnership with the Paris-based startup incubator Station France.
