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French Watchdog Clamps Down on Crypto Trading

  • French market regulator says MiFID II rules must apply
  • Curbs sought on electronic marketing of CFDs, derivatives
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Photographer: Daro Sulakauri/Bloomberg

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France’s top markets regulator is getting tough on cryptocurrency trading.

The Autorite des Marches Financiers said on Thursday that online trading platforms for cryptocurrency derivatives fall under the European Union’s MiFID II regulations and face tough new reporting and business conduct standards. The platforms should also be barred from advertising the products electronically, a common practice in the industry.