Dux has just obtained its DASP registration from the AMF (it’s PSAN in French). What is DASP registration? Is it mandatory? What are the requirements for obtaining it? Does this make Dux more reliable? Let's discuss all this briefly.
Since 2020 in France, any Digital Asset Service Provider, or DASP, must register with the Autorité des Marchés (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR). As a DASP, Dux provides services on behalf of its clients, such as the custody and services of buying and selling bitcoin for legal tender, including the euro.
To provide bitcoin neo-banking services as a regulated DASP, Dux had to put in place an internal anti-money laundering and terrorist financing (AML-CTF) policy, as well as a risk classification that allows Dux to demonstrate its ability to manage risks related to financial flows.
These measures allow us to ensure that our customers are protected against these risks, and to operate our business legally in the eyes of French regulators.
Buy bitcoin with Dux
DASP registration is the first regulatory step for us to become a European bitcoin neo-bank. We are starting our activity to allow the French to use a current account in euro and a savings account in bitcoin. We want to make bitcoin savings accessible to everyone. All from our mobile app.
Our mission is simple: to allow our friends, our mothers, our grandfathers to buy and secure bitcoin with confidence, independently and responsibly.
You can also find our DASP registration (number E2021-021) on the AMF's white list.