Foreign news: France demands KYC rules for all crypto markets

According to the Block report of December 9, France will apply the new strict measures to the national cryptocurrency market. Simon Polrot, director of the French cryptocurrency agency ADAN, said in an interview that the French Monetary Fund would regulate the industry from cryptocurrency to crypto, with strict "Know Your Customer" (KYC) rules for cryptocurrency companies. According to the report, the French Monetary Fund is expected to announce a policy that would require a full KYC for all crypto markets (including cross cryptocurrency) later this week (Wednesday or Thursday). This means that all cryptocurrency exchanges and other companies are required to identify their customers, regardless of the size of the exchange. Another important exchange policy offered is the registration of cryptocurrency exchanges. In France, registration rules should now only apply to fiduciary exchanges and crypto agents. The source said the main reason for the crackdown was the recent protests in France.