Refusal of CASP Authorization : Key possible Reasons by the AMF

When a company applies for authorization as a Crypto-Asset Service Provider (CASP) with the Autorité des Marchés Financiers (AMF), several factors can lead to a refusal. Here are the main reasons cited :

1. Risks Associated with the Management Team

The AMF may consider that the management team poses a threat to:

• The company's sound management.

• The security of its activities.

• The interests of clients.

Additionally, if significant risks of money laundering or terrorist financing are identified, authorization may be denied.

2. Lack of Competence and Integrity of Directors

Directors must demonstrate impeccable competence and integrity. If these criteria are not met, the AMF is entitled to refuse authorization.

3. Insufficient Honorability of Major Shareholders or Partners

Shareholders or partners holding a significant stake in the company must exhibit satisfactory honorability. A deficiency in this area can lead to a refusal of authorization.

4. Non-Compliance with Applicable CASP Regulations

The company must adhere to all regulations related to CASPs. Any non-compliance, or risk thereof, can justify a refusal by the AMF.

It is crucial for companies seeking CASP authorization to ensure full compliance with these criteria to maximize their chances of success.

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#crypto #cryptomonnaie #bitcoin #blockchain #ethereum #btc #trading #cryptonews #cryptotrading #nft #cryptocurrency #investissement #cryptoworld #cryptocurrencies