Chain News by Thebittimes.Com

The Autorité de contrôle prudentiel et de résolution (ACPR) published some guidelines on DeFi regulatory framework based on a public consultation. The regulator conducted a series of interviews and assessments with a significant player from the crypto ecosystem to understand the current situation surrounding the defi market. In April 2023, the ACPR published an initial research paper on the DeFi regulatory framework , which opened the debate for industry regulation. You might also like: BIS and central banks of France, Singapore, and Switzerland wrap up CBDC project The discussion focused on an initial Analysis of the risks associated with defi and the possible avenues for regulation. The consultation paper allowed the French regulator to consolidate and improve their understanding of the main defi mechanisms. Some of the key points brought by the consultation paper were to lay down measures relating to the reliability of the blockchain infrastructures on which defi o...

Binance France has unveiled its first-ever audited financial statements, following its ability to secure registered status in the country. A recap of the report In adherence to local regulatory and legal mandates, Binance France commits to publishing these audited financial statements annually. The financial statements covering 14 months, beginning with the company’s inception on Nov. 8, 2021, and ending with the financial year ending on Dec. 31, 2022.  The report goes on to share that Binance France holds approximately €1 billion in crypto assets on behalf of its users, specifically catering to French resident Binance users. Additionally, the company has 7 million USDT in its account.  #Binance France released its first audited financial statements today. Binance France a publié aujourd’hui ses premiers états financiers audit és.https://t.co/NkQ8z2lByQ — CZ Binance (@cz_binance) July 21, 2023 The financial records for 2022 indicate a €4 million loss, which can...

SG-FORGE, the crypto currency unit of the French multinational financial giant, Société Générale Group, has become the first institution to receive a crypto currency regulatory license in France, enabling the company to operate as a regulated digital asset service provider (DASP) in the country.  According to an updated list from the website of France’s financial markets watchdog, Autorité des Marchés Financiers (AMF) Societe Generale-Forge was listed as the only licensed DASP. The subsidiary received regulatory approval from the AMF on July 18, following a previous DASP registration in September 2022.  With the license , SG-FORGE would be able to offer trading and custody of digital assets, as well as buying and selling of crypto for legal tender. You might also like: Societe Generale French Bank Introduces a Digital Asset Service for Asset Managers According to a press release, the crypto currency unit stated that the DASP license by “a major EU ...

The platform makes the first use case of a so-called “Proof of Climate” blockchain protocol. Two banks from Sweden and France announced the launch of a new digital bond platform built on blockchain technology. The platform will enable institutional clients to issue, trade and settle bonds digitally, providing a more efficient and secure process than traditional methods. The platform is a joint project of Skandinaviska Enskilda Banken (SEB) and Credit Agricole Bank, called “so|bond.“ According to the announcement from April 3, the blockchain network will be using a validation protocol, “Proof of Climate awaReness,” and minimizing its environmental footprint. The Proof of Climate awaReness protocol is said to enable an energy consumption comparable to non-blockchain systems, and incentivize participating nodes to improve the environmental footprint of their infrastructures. Each node will be remunerated according to a formula linked to its climate impact: the lower the environmental...

Pre-summit events such as the Talent Fair, the Startup Competition as well as the Investors Day made up the day on March 20 at the Paris Blockchain Week. Paris Blockchain Week 2023 (PBW) is about to kick off its ‍4th year as one of the world’s largest conferences tackling all things blockchain, crypto and Web3. The Event hosts over 10,000 attendees and was sold out the previous year. The Cointelegraph team is stationed in Paris for the latest news from the ground. This year’s edition of PBW has speakers from some of the industry’s biggest players, such as Consensys, Ledger, Animoca Brands, Alogrand, Reddit and more. The event consists of the main summit and Web3XP on all things Web3. The main themes of the summit and Web3XP include public policy, enterprise blockchain, open finance, Web3 art and investing in Web3 culture and entertainment, among others. It also has a dedicated Event for investors, a competition for startups, a hackathon and additional side events. Cointelegraph editor...