$5.1 TRILLION French Bank, CACEIS, is now officially registered to offer bitcoin custody services.
Information reads: “$5.1 TRILLION FRENCH BANK CACEIS
IS NOW OFFICIALLY REGISTERED TO
OFFER BITCOIN CUSTODY SERVICES.”
CACEIS, the asset servicing arm of banking giants Crédit Agricole and Santander, has been registered by French regulators to provide crypto custody services.
CACEIS Bank, which provides services to asset managers such as insurers, pension funds and private equity, was registered by France’s Financial Markets Authority (AMF) as of Tuesday June 20, according to the regulator’s website.
French financial regulators have granted a crypto custody license to CACEIS, the asset servicing arm of banking giants Credit Agricole and Santander. The license allows CACEIS Bank to provide services to asset managers such as insurers, pension funds, and private equity. Other traditional finance firms like Societe Generale and AXA Investment are also seeking recognition under the European Union’s new crypto licensing rules, known as MiCA, which will come into effect in 2024.
It joins other traditional finance firms such as Societe Generale’s Forge and AXA Investment Managers in being recognized under one of the most advanced crypto regulatory frameworks in Europe, as the European Union prepares to impose new crypto licensing rules known as MiCA as of 2024.
As the European Union prepares to implement new crypto licensing rules known as MiCA from 2024, traditional finance firms like Societe Generale and AXA Investment are seeking recognition under one of the most advanced crypto regulatory frameworks in Europe. CACEIS, which has $5.1 trillion in assets under management, has reportedly been targeting crypto regulatory status since 2021. In France, registration with the Financial Markets Authority (AMF) is mandatory for those providing crypto custody, clearing, or trading services. Binance, the world’s largest crypto exchange, is currently under investigation by French authorities for allegedly operating illegally before obtaining approval in 2022.
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