The European Commission's consultation on the EU market for energy productsdigital assets, which closed in March 2020, opened the regulatory process at the European level. At the same time, the AMF is clarifying certain provisions applicable to activities related to security tokens and is proposing the establishment of a "Digital Lab". It is in this context that Adan, AFTI, AMAFI and the Gide255 team have surveyed the players involved in the development of the security token market. The aim of this initiative is to feed into the regulatory work in progress.
The health situation linked to COVID-19 has impacted all sectors of the French economy. The digital assets and blockchain players ("crypto/blockchain" players) have not been spared. In this context, Adan has launched a major survey of the industry. Based on the contributions of the participants in this survey, this report presents the state of play of the digital assets and blockchain sector during this exceptional period.
In January, ADAN carried out a public consultation on exchange activities between digital assets (so-called "crypto-crypto" activities) carried out from France, which led to the drafting of this report. The report concludes that there is a need for a global reflection on the modalities of supervision of the crypto-crypto players.
On 21 June 2019, the Financial Action Task Force (FATF) issued recommendations on digital assets for the Group's member states. The purpose of these recommendations is to implement measures to combat money laundering and terrorist financing. ADAN wishes to assist public authorities in the effective implementation of these recommendations, and presents in this document the Association's recommendations on the modalities of this transposition.