According to the regulator’s website, Bitstamp is officially registered with the French Financial Markets Authority. The exchange is registered under one of the most complex crypto regimes in the EU, along with Binance, Bitpanda and the Forge unit of Societe Generale.
In France, registration includes verification that the company has competent and reputable managers and that it adheres to money laundering norms. Based in Luxembourg, London and New York, Bitstamp is registered in Spain and Italy. The European crypto industry is currently awaiting the launch of MiCA, the EU’s market regulation for crypto assets, which will impose strict reserve and investor information requirements for crypto services such as wallets and exchanges.
According to proposals currently being discussed by French lawmakers in the wake of the FTX debacle, unregistered firms serving the French market would have to segregate client assets and manage conflicts of interest – a stricter requirement aimed at moving to MiCA.
Jean-Baptiste Graftieaux, CEO of Bitstamp Global, said in a statement emailed to CoinDesk that the company is “very proud” of its new status as a virtual asset provider in France.
“France represents one of the most important markets for Bitstamp in Europe,” Graftieaux said. “The crypto-asset market has been experiencing a major turning point for a few months now and, as a pioneering player, we are keen to be a driving force in the adoption of crypto-currencies from a wider public.”