After expanding to the US and UK, the firm is looking to start business in markets with high potential for the crypto industry. Napolean Asset Management has the experience of providing crypto solutions to professional investors. The French financial regulator has given approval to CoinShares for this deal. This will enable CoinShares to introduce Exchange Traded Products (ETP) and Alternative Investment Fund Manager (AIFM) related services to European markets. “The AIFM license has stringent regulations in Europe and is critical to CoinShares’ goal of becoming a leading firm in the digital asset sector,” CoinShares explained in a blog post. It will help in offering related products and services.”
CoinShares is seeing the approval from the French authorities as a positive sign for the crypto segment. The firm’s CEO, Jean Marie Mognetti, said that he favors the governance of the crypto segment with stricter regulations. “It has become clear that the crypto segment needs stricter regulations to grow. We are delighted to have received this approval. We plan to become a leader in Europe’s digital asset sector,” he added.
This is another achievement for the crypto segment in Europe. The European Union recently approved crypto regulations for its member countries. The crypto market has been in decline for the past few months. The main reasons behind this are the increase in interest rates and economic slowdown from the Federal Reserve in America as well as the Central Bank in some other countries. The total market capitalization of the crypto segment stood at a little over $2 trillion in March. This has come down to about $913 billion. The biggest cryptocurrency bitcoin is priced at a little over $20,000.
Cryptocurrency prices in Indian exchanges
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