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French banking giant Groupe BPCE has secured a regulatory greenlight to offer cryptocurrency-related services, despite concerns over gambling and fraudulent activities within the blockchain space.
In related news, a $30 million international crypto fraud from 2018 is set to go on trial in France. The scam involved impersonating agents to con professional football clubs, resulting in €60,000 being redirected into fraudulent accounts.
Despite these concerns, Groupe BPCE has been granted approval by the French regulatory authority, Autorité des Marchés Financiers (AMF), to offer cryptocurrency services. This move comes as no surprise, given the growing demand for digital assets and the need for financial institutions to adapt to changing market trends.
However, this development may raise concerns about the potential risks associated with crypto trading, particularly in regards to gambling and fraudulent activities.
As reported earlier today, Ark Invest CEO Cathie Wood predicts that Bitcoin will top $1 million by the end of the decade.
Source: cryptoslate.com
