Nikolas Sargeant
A French regulator stated Tuesday that approximately 30% of cryptocurrency companies without an EU license have not informed authorities of their plans regarding MiCA licensing or potential cessation of operations by July.
Stéphane Pontoizeau, Executive Director of the Market Intermediaries and Market Infrastructures Supervision Directorate at the AMF, told journalists in Paris the regulator had already contacted companies in November, reminding them to respond before the June 30, 2026 license deadline.
According to Reuters, only 30% of crypto firms in France responded to the regulator and applied for a license, while 40% stated they are not seeking authorization. France-based cryptocurrency businesses failing to obtain licenses will be required to cease operations in July.
Last week, French regulators warned the public against unregulated cryptocurrency offerings from unauthorized companies. Under European Securities and Markets Authority requirements, companies that have not obtained MiCA authorization must implement an "orderly wind-down plan" before the transition period ends.
Last month, the European Commission proposed transferring cryptocurrency oversight from national regulators to ESMA, aiming to eliminate regulatory fragmentation across 27 member states by granting ESMA powers comparable to the US Securities and Exchange Commission.
MiCA licenses have been granted to stablecoin issuer Circle, US exchanges Coinbase, OKX, Crypto.com, Binance, and British fintech Revolut. In September, France issued a warning noting it may attempt to block some crypto firms licensed in other EU nations from operating domestically, threatening to challenge MiCA "passporting" granted by different member states.
AMF President Marie-Anne Barbat-Layani urged transferring industry oversight to ESMA in Paris, characterizing it as a "more harmonized" approach to cryptocurrency sector supervision.
