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CACEIS<\/a>, the asset servicing business owned by Credit Agricole and Santander, has registered with France’s markets regulator AMF to provide custody services for digital assets, such as cryptocurrencies.<\/p>\n The company registered as a digital asset service provider (DASP) on June 20, according AMF’s website, adding a major traditional financial services group to the growing number of crypto companies registered by the French watchdog.<\/p>\n France has been supportive of the nascent industry and was the first major European country to grant registration to the world’s biggest cryptocurrency<\/a> exchange, Binance<\/a>.<\/p>\n Subsidiaries of other big names in French finance, such as Societe Generale and AXA, are also listed among the DASPs registered with AMF.<\/p>\n CACEIS had EUR 4.1 trillion (roughly Rs.\u00a03,36,37,200\u00a0crore) in assets under custody at end of last year, according to its website. Credit Agricole SA is its majority owner with a 69.5 percent stake, while Santander holds a 30.5 percent of the group.<\/p>\n On the other hand, months before cryptocurrency exchange Coinbase<\/a> became the biggest target of the US crackdown on digital assets, the company launched<\/a> an unusual legal offensive, recruiting top lawyers to try to shape court rulings in other cases.<\/p>\n Before the US Securities and Exchange Commission sued Coinbase on June 6, the company had weighed in on two other crypto-related lawsuits brought by the regulator and urged judges to adopt views on open legal questions that are now at the heart of its own case.<\/p>\n In each case, Coinbase filed briefs as an “amicus,” or friend of the court.<\/p>\n While common at the US Supreme Court, amicus briefs are filed in just 0.1 percent of cases in federal trial courts, according to law firm Gibson Dunn & Crutcher, although crypto industry groups have been filing an increasing number in SEC cases in support of defendants.<\/p>\n \u00a9 Thomson Reuters 2023<\/em><\/p>\n