France’s financial regulator says a significant share of crypto companies operating without an EU license are still failing to say what they plan to do — even as the MiCA compliance deadline draws closer.
Speaking to journalists in Paris on Tuesday, Stéphane Pontoizeau, executive director at the Autorité des marchés financiers (AMF), said around 30% of crypto firms without an EU license have not responded to the regulator at all. Those companies have yet to say whether they intend to apply for a MiCA license or shut down operations by July.
Pontoizeau noted that the AMF had already reached out to firms in November, reminding them to clarify their plans ahead of the June 30, 2026 licensing deadline. In France, crypto businesses that fail to secure a MiCA license will be required to cease operations in July.
The transition period under MiCA differs across EU countries, but French authorities appear increasingly concerned that many firms are not taking the process seriously. According to figures cited by Reuters, only 30% of crypto firms in France have applied for a MiCA license, while 40% have said they do not intend to apply.
Just last week, French regulators issued a public warning about unregulated crypto offerings, cautioning consumers against companies that are not authorized to operate under EU rules.
Firms Must Prepare to Shut Down if Unlicensed
Under guidance from the European Securities and Markets Authority (ESMA), crypto companies that fail to obtain MiCA authorization are required to put an “orderly wind-down plan” in place before the transition period ends. The requirement is meant to protect customers and limit market disruption as the new regime comes into force.
At the EU level, regulators are also debating broader structural changes. Last month, the European Commission proposed shifting oversight of the crypto sector from national regulators to ESMA. The move is aimed at reducing regulatory fragmentation across the EU’s 27 member states by giving ESMA powers similar to those held by the U.S. Securities and Exchange Commission.
So far, MiCA licenses have been granted to several major players, including Circle, Coinbase, OKX, Crypto.com, Binance, and UK fintech Revolut.
France Pushes for Centralized Oversight
France has been one of the strongest advocates for tighter, more centralized supervision of crypto. In September last year, authorities warned they may attempt to block some crypto firms licensed in other EU countries from operating in France, signaling concerns about how MiCA “passporting” could be applied unevenly across the bloc.
AMF President Marie-Anne Barbat-Layani has repeatedly called for transferring crypto oversight to ESMA in Paris, arguing that a single supervisor would deliver a more consistent and harmonized approach to regulating the sector.
As the MiCA deadline approaches, French regulators are making it clear: silence is no longer an option, and firms that fail to engage may soon be forced to exit the market.
