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Sujha Sundararajan
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A French regulator said Tuesday that about 30% of crypto companies without an EU license have not informed of their plans, whether to apply for a MiCA license or cease operating by July.
Speaking to journalists in Paris, Stéphane Pontoizeau, Executive Director of the Market Intermediaries and Market Infrastructures Supervision Directorate at the AMF, noted that the regulator had already written to companies in November, reminding them to respond before the license deadline on June 30, 2026.
The transition period for the MiCA license varies for different EU countries. France-based crypto businesses that fail to obtain a license will be required to cease operations in July.
According to Reuters, only 30% of crypto firms in France responded to the regulator and have applied for a license. Whereas, 40% said they are not seeking one.
Last week, French regulators warned the public against unregulated crypto offerings from companies that are not authorized to do so.
Under the European Securities and Markets Authority (ESMA) requirements, companies that have not obtained MiCA authorization must implement an “orderly wind-down plan” before the end of the transition period.
Last month, the European Commission proposed transferring crypto oversight from national regulators to ESMA. By doing so, the EC aims to eliminate regulatory fragmentation across 27 member states by granting ESMA powers comparable to those of the U.S. SEC.
So far, the MiCA license has been granted to stablecoin issuer Circle, US exchanges Coinbase, OKX, Crypto.com, Binance, and British fintech Revolut.
AMF is Pushing for Centralized Crypto Oversight
In September last year, France issued a warning noting that it may attempt to block some crypto firms licensed in other EU nations from operating domestically. The country threatened to challenge MiCA “passporting” granted by different member states.
The AMF President Marie-Anne Barbat-Layani urged to transfer oversight of the industry to ESMA in Paris. This would be a “more harmonized” approach to supervision of the crypto sector, she added.
