Crypto Exchanges
By Jean-Luc Maracon
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What Happened. Coinhouse has received its approval. The Autorité de contrôle prudentiel et de résolution — the…
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Historical Context. The crypto industry has experienced similar moments before.
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Why It Matters. Stablecoins have an image problem in Europe. They lack real banking legitimacy, are perceived as…
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What to Watch. Three things are worth closely monitoring in the coming months.
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Coinhouse has received its approval. The Autorité de contrôle prudentiel et de résolution — the ACPR — granted the French platform a payment institution license on July 23.
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To put this into context: Coinhouse can now offer payment services regulated by French prudential standards, with all that entails in terms of capital requirements, internal…
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The crypto industry has experienced similar moments before. In 2018, Bitstamp secured a European license for banking services — it caused a stir at the time, with many seeing it…
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But Coinhouse's approval is different in nature. Bitstamp and Binance sought commercial legitimacy.
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France, in all this, is clearly playing a card. The ACPR does not grant these licenses lightly — the process is long, and the requirements are serious.
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Stablecoins have an image problem in Europe. They lack real banking legitimacy, are perceived as speculative tools by those who don't use them, and are often associated with the…
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Related: Goldman Sachs CEO Backs CLARITY Act as Stablecoin Fight Stalls Congress Vote
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Related Reading: Goldman Sachs CEO Supports CLARITY Act as Congress Vote on Stablecoins Stalls
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For Coinhouse's competitors, the pressure is mounting. Not immediately, but it's building. If clients — individuals or businesses — begin to value going through a licensed…
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And for traditional financial institutions observing the crypto sector from afar, it's yet another reminder that the lines are shifting. Quickly.
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First, the volume of stablecoin transactions on the Coinhouse platform. If the approval translates into a significant increase — say around 20% over six months — it will indicate…
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