Crypto companies in France would have to seek authorization from regulators to operate if they are not already registered with the country’s financial regulator by Jan. 1, 2024, under plans adopted by lawmakers at the National Assembly on Tuesday.

The plans offer more leeway than the Senate, which proposed in December to offer a cut-off date of October 2023, in a bid to stop crypto companies abusing new European Union rules known as the Markets in Crypto Assets (MiCA) regulation.

“I propose to take the date of January 1, 2024, to let new entrants have a little more time to ask for their authorization, which is complicated,” as well as offering more time to the Financial Markets Authority to process applications, said Daniel Labaronne, who is holding the pen on the new legislation on behalf of the Assembly’s Finance Committee.