The French Financial Markets Authority (AMF) announced that it will cancel the registration of Digital Asset Service Provider (PSAN) AUTOMATA France SAS (operating Vancelian com) effective June 30, 2026. The AMF stated that the company engaged in crowdfunding activities without authorization, and its illegal operations reflect that its management and major shareholders do not meet the regulatory standards of integrity and competence, thus deciding to proactively initiate the cancellation process. The AMF indicated that before the cancellation takes effect, the company may only carry out necessary tasks such as liquidation and return of client assets, and must complete an orderly exit.

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AvocadoYieldRate
· 6h ago
The PSAN license is hard to obtain, and losing it is even worse. Forcing the crowdfunding business without a license shows the management's boldness.
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GasFeeGambit
· 6h ago
The AMF is now taking action more frequently, and European compliance costs are visibly rising.
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NeonIceMelt
· 6h ago
The French Web3 startup environment was already tight, and this is sounding an alarm for peers.
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VelvetValidator
· 6h ago
Liquidation + return of assets, at least clients can get their money back, which is better than just running away.
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