SG-FORGE, the cryptocurrency unit of the French multinational financial giant, Société Générale Group, has become the first institution to receive a cryptocurrency regulatory license in France, enabling the company to operate as a regulated digital asset service provider (DASP) in the country.&nbsp; 
According to an <a href="https://www.amf-france.org/en/professionals/fintech/my-relations-amf/obtain-dasp-authorisation#List_of_DASPs_licensed_by_the_AMF" target="_blank" rel="noopener noreferrer nofollow">updated list</a> from the website of France’s financial markets watchdog, Autorité des Marchés Financiers (AMF) Societe Generale-Forge was listed as the only licensed DASP. 
The subsidiary received regulatory approval from the AMF on July 18, following a previous DASP registration in September 2022.&nbsp; 
With the license, SG-FORGE would be able to offer trading and custody of digital assets, as well as buying and selling of crypto for legal tender. 
 You might also like: <a href="https://crypto.news/societe-generale-french-bank-introduces-a-digital-asset-service-for-asset-managers/" rel="noopener noreferrer nofollow"> Societe Generale French Bank Introduces a Digital Asset Service for Asset Managers </a> 
According to a <a href="https://www.sgforge.com/first-dasp-license-amf/" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the cryptocurrency unit stated that the DASP license by “a major EU regulator” serves as an “important step for the development of Euro CoinVertible (EURCV).&nbsp; 
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In April, SG-FORGE <a href="https://crypto.news/societe-generale-launches-ethereum-based-eur-stablecoin/" rel="noopener noreferrer nofollow">launched</a> EURCV, a euro stablecoin built on Ethereum, designed to bridge the gap between digital assets and traditional capital markets.&nbsp; 
<blockquote class="wp-block-quote"> 
 With the DASP license approval, Societe Generale-FORGE confirms its pioneering role in the crypto assets ecosystem. This step will allow us to continue supporting our institutional clients wishing to benefit from services on digital assets that meet the highest standards of compliance and banking security.”&nbsp; <cite>Jean-Marc Stenger, CEO of SG-FORGE</cite> 
</blockquote> 
Meanwhile, Binance, which received DASP registration from the AMF in May 2022, is allegedly <a href="https://crypto.news/binance-reportedly-under-investigation-in-france-for-alleged-money-laundering/" rel="noopener noreferrer nofollow">under investigation</a> by French authorities for money laundering which has been ongoing before the company’s AMF registration approval.&nbsp; 
 Read more: <a href="https://crypto.news/caceis-bank-gains-psan-registration-becomes-first-digital-asset-custodian-in-france/" rel="noopener noreferrer nofollow"> CACEIS Bank gains PSAN registration, becomes first digital asset custodian in France </a>

Societe Generale’s crypto division secures license in France

crypto.news

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