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French National Assembly Passes New Crypto Registration Rules for Firms

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Today’s Cryptocurrency Headline

The French National Assembly passed a set of licensing rules for crypto firms operating in the country. Under the new rules, French companies offering cryptocurrency services must attain a more robust registration than currently offered by the Financial Markets Authority (AMF).
The new rules will apply to companies registered after July 2023. Companies that are already registered with the AMF, following existing anti-money laundering provisions, will be able to continue to operate as they are until the end of the transition period which MiCA offers, likely in 2026.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 0.59% over the last 24 hours and fell to an intraday low of $23,022.42. The largest cryptocurrency was trading around the 20-day exponential moving average for the past few days, suggesting neither bulls or bears are willing to give up this level . The flattening 20-day EMA and the relative strength index (RSI) near the midpoint, suggesting the market momentum is neutral. If the BTC/USDT pair maintain above the 20-day EMA, the bulls will attempt to push the price above $24,000 . On the other hand, if the price breaks below the 20-day EMA, the price could drop to $22,800.


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