The French financial regulator AMF wants the EU to allow the digitization of financial instruments on blockchain. It hopes to remove any legal impediments to tokenization and also enable stable coins for interbank settlements. It says that blockchain can “significantly increase the efficiency of the financial markets.” The AMF even questions the current financial market infrastructures, including the need for some of the intermediaries.
At the end of January, the Autorité des Marchés Financiers (AMF) issued a working document aimed at encouraging the European Commission to develop a European digital strategy for financial services.
In particular, the AMF views some of the legal requirements to involve intermediaries as outdated in a blockchain world.
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