We are happy to inform all Bitpanda users, especially those who are residents of France, that as of the 18th of December, Bitpanda will be registered with the AMF and therefore, be regulated in France. This means that our services are registered with the Autorité des marchés financiers (AMF), the Financial Markets Authority of France.
As Europe’s leading neobroker on a mission to democratise the complex world of investing, Bitpanda has always been adamant about being in full compliance with legislation and regulatory measures in all the markets that we operate in. We believe that regulatory measures show commitment from governments to develop innovative fintechs into a serious contender with the traditional financial industry.
France as a benchmark
France is taking a special position as a frontrunner in this space, as a common European regulatory framework for digital assets is in the works. As Bitpanda is an entity that is offering services to users with French residency enabling them to hold, buy and sell digital assets such as Bitcoin, registration with the AMF is a requirement to be in full compliance.
Legislation in France regarding ICOs with digital assets went into effect in 2019 pursuant to the PACTE law, which was passed to protect consumers and provide a positive framework for ethical entities to exist and grow. The PACTE law was pioneering legislation in the European crypto space, allowing for the recognition of serious actors in the industry and is a milestone in terms of promoting innovation and financial technology.
With the implementation of the 5th Anti-Money Laundering Directive (AML5) of the European Union, the PACTE law was amended regarding the registration of digital asset service providers.
I am a user with French residency. How does this affect me?
In practice, nothing will actually change for you. As a registered Digital Asset Service Provider with the AMF, Bitpanda proves that we are a legitimate entity entitled to operate in France and that we care about being as transparent and compliant as possible, thus increasing user confidence and trust.