Rotterdam, May 17 2021 – LiteBit is the first Dutch crypto party to be registered with the French regulator Autorité des Marchés Financiers (AMF). This makes the broker the 15th crypto platform that has received a DASP approval (Digital Asset Service Provider) from the French regulator. The registration is the second European registration for LiteBit. In November 2020, the Rotterdam broker was already granted a registration from the Dutch National Bank. LiteBit, which was named the best crypto broker two years in a row during the CashCow awards, is proud of its registration and supports the French initiatives that will make the market more transparent.
With the registration acquired on 11 May, LiteBit proves it takes the safety of her users and industry in general seriously. Under the French Pacte law, which was implemented in 2019, companies that offer crypto services are obligated to register with the AMF in order to operate on the French market. Obtaining a DASP status requires, among other things, compliance with rules aimed at preventing money laundering and terrorist financing and an assessment of the management of a company.
Positive about legal framework
The registration provides a legal framework to cryptocurrency-related activities in France and therefore works in favor of the crypto market. Olivier van Duijn, CEO at LiteBit, also sees it as a positive development: “We are extremely proud that we are the first Dutch party to meet the requirements of AMF and have been granted a registration. And that only a few months after our registration in the Netherlands with DNB. Two steps that show our commitment to making our platform a safe and reliable trading environment, in compliance with all crypto laws and regulations.”
Biggest in Europe
LiteBit has invested a lot in trust and security in recent years and has had a policy to prevent money laundering and terrorist financing for years already. The French registration and requirements fit well with LiteBit's core strategy. The crypto broker has the ambition to become the largest in Europe. In addition to registrations in the Netherlands and France, LiteBit is also working on a registration and license in Austria and Germany, among others.