Web3: French regulators, including the AMF, launch a working group

On the occasion of a meeting at 8 public authoritiesincluding theAMFtheir representatives addressed the regulation from Web3. They will soon be launching a working group dedicated.

Twice a year, representatives of French administrative and public authorities organize a joint symposium. The most recent event took place on June 21, as witnessed by theAMFthe French financial markets regulator.

The latter was present, as were 7 other French authorities (Autorité de la concurrence, Arcep, Arcom, ART, CNIL, CRE and ANJ). At the heart of the discussions, of course, was the subject of regulation, including “reflections and experiences around regulatory and inter-regulatory issues “.

Regulation put to the test by AI and the Web3

In this field, two new texts Digital Service Act and the “securing and regulating the digital space” bill, are the latest news from the authorities.

The changes resulting from these texts in terms of new competencies and inter-regulation issues have been widely discussed”, they emphasize.

But regulators’ missions are also being put to the test by technological breakthroughs. Two “emerging technologies had an impact on the activities of the French authorities. These areartificial intelligence and the Web3.

Two working groups coming soon

The regulators express their willingness to support these “innovations in their respective fields of competence, and to continue working together to propose coherent solutions on these subjects of common interest”.

And it is in this context that they plan “shortly” to launch two working groups. The first will focus on Web3. The second will concern theevolution of investigative techniques authorities.

The AMF has been at the forefront of crypto regulation since the Pacte law. In particular, the financial watchdog is responsible for PSAN registrations and approvals. With the adoption of MiCA, this role has been reinforced.

ACPR and AMF prepare for DeFi regulation

The Autorité des marchés financiers is also preparing for future crypto regulations, and in particular that of DeFi.

Earlier this week, the French regulator published a discussion paper on the decentralized finance containing regulatory guidelines. The AMF is not alone on this issue.

In France, the ACPR has made a number of proposals for the supervision of DeFi. […] At EU level, the European Commission will have to assess developments relating to decentralized finance on crypto-asset markets and the need for regulation following the entry into force of MiCA,” she reminds us.

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