France's national Assembly has passed a set of licensing rules for encryption companies operating in the country as part of a wider bill aimed at harmonising French law with EU standards. The final vote in the National Assembly was 109 to 71. France's Senate has already passed the bill and it now awaits President Emmanuel Macron's signature. The new registration proposal will reportedly subject encryption service providers to higher regulatory standards, such as corporate governance, funds segregation rules, and reporting guidelines to regulators, among others. Companies also need to clearly disclose risks and implement conflict of interest policies. The enhanced registration process will apply to companies registered from July 2023. Under existing anti-money laundering rules, companies already registered with the Financial Markets Authority (AMF) will be able to continue operating until the end of the transition period provided by the EU Crypto Asset Markets Act (MiCA), which could be in 2026.