The Dutch crypto exchange Bitvavo has received approval from France’s financial regulator, the AMF, signaling its entry into the French market. This move follows recent forays into Austria and Italy, with plans to expand further into the European market.
Bitvavo CEO Mark Nuvelstijn expressed excitement about providing cryptocurrency services to French users. He emphasized the growing interest of French adults in crypto investments, which aligns with Bitvavo’s strategic expansion goals.
Bitvavo, boasting 1.5 million customers in the Benelux region, emphasizes a gradual approach to expansion. Nuvelstijn emphasized the importance of focusing on key markets rather than hastily entering the entire European landscape.
The upcoming MiCA regulations in the EU, effective in 2024, are on Bitvavo’s radar. These regulations aim to standardize crypto rules across Europe, promote market maturity, and facilitate cross-border business.
Nuvelstijn views MiCA as a positive step towards establishing uniform regulatory standards in the crypto industry.