Osborne Clarke advised and assisted BUX, one of Europe’s leading neobrokers, in obtaining its registration as a DASP in France

Osborne Clarke Netherlands and France advised and assisted BUX in the obtention of its DASP registration (E2022-61) before the French regulators (“Autorité des marchés financiers” ("AMF") and the “Autorité de contrôle prudentiel et de resolution” ("ACPR")). 

Based in Amsterdam BUX operates a neobroker allowing to invest in shares, ETFs and digital assets easily through its intuitive mobile app. BUX is currently registered as a DASP in Netherlands, and has expanded its activities in several European Union member States, including France. As part of its activities, BUX has been registered by the AMF and the ACPR to provide the services of (1) custody of digital assets, (2) purchase/sale of digital assets in legal tender and (3) exchange of digital assets for other digital assets. 

In this regard Jean-Philippe Fabre, Responsible France & Risk Officer within BUX states: "Obtaining our registration as a DASP with the Autorité des Marchés Financiers is the result of extensive work undertaken by the teams of BUX and Osborne Clarke for several months. This is a major step for BUX in our development strategy in France. We are convinced of the potential of digital assets in a well-balanced portfolio and are delighted to be able to offer our French users the possibility to invest directly in digital assets”.
 
Karima Lachgar, partner at Osborne Clarke, added: "BUX AI is a Dutch Fintech founded by finance and crypto professionals which have developed innovative and multi-rewarded models and tools. We are pleased with my colleagues from OC Netherlands and other European offices to assist BUX AI in achieving its expansion plan to become a leading neo-broker in the EU”.

Within the framework of its DASP registration, BUX was advised by Osborne Clarke Netherlands, by Johannes de Jong (partner), Anka Langedijk (mid-associate) and Osborne Clarke France, by Karima Lachgar (partner), Maia Steffan (mid-associate) and Olivier Laurette (Outsider C) for the negotiations and exchanges with the competent authorities, the elaboration of the registration file (program of operations, procedures of selection of digital assets, legal qualification of the activities), the legal and regulatory adaptation of the anti-money laundering and counter-terrorism financing procedure to the French specificities, and the contractualization with the service providers.