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Crypto

France calls for DeFi connection platforms to be held accountable for security lapses

France has called for crypto platforms that connect customers to DeFi protocols to be held accountable for incidents if they actively facilitate access, in proposals submitted as part of a review of the EU’s MiCA rules. The authorities proposed mandatory checks before linking to DeFi and ongoing monitoring for suspicious activity, and backed protocol and smart contract certification. They also renewed calls to shift CASP supervision to ESMA and to adjust thresholds for major operators.

Crypto

Italy central bank tightens crypto screening to curb sanctions evasion linked to Russia and Iran

The Bank of Italy has told crypto asset service providers to strengthen sanctions screening for customers and transactions to prevent evasion of international financial sanctions. It issued supervisory guidance requiring internal policies, procedures and control systems to implement EU and Italian sanctions and to identify customers and transactions linked to sanctioned persons in crypto transfers. The move seeks compliance with existing EU rules and EBA guidance, amid concerns about Russia- and Iran-linked crypto activity.

Crypto

BitPay secures Dutch approval, seeks to expand stablecoin payments

BitPay has obtained approval from the Netherlands Authority for the Financial Markets, allowing it to operate in EU member states under the MiCA framework. Cointelegraph reported on July 16 that BitPay secured a Crypto Asset Service Provider (CASP) licence under MiCA requirements. The approval enables BitPay to expand cryptocurrency and stablecoin payment services in Europe. BitPay’s head of Europe Jonathan Raller called Europe a key region for the future of payments. Ripple said last week it obtained a CASP licence in Luxembourg.