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France's MiCA deadline puts unlicensed crypto firms on notice
AMF President Marie-Anne Barbat-Layani says crypto firms must finalize MiCA license applications by June 30 or face enforcement. The deadline creates a binary choice for unlicensed providers.
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France’s Financial Markets Authority has warned crypto firms to secure MiCA licenses before the June 30 deadline or leave the market. The warning arrives as Europe moves toward full enforcement of the Markets in Crypto-Assets framework.
AMF President Marie-Anne Barbat-Layani said crypto firms must complete their license applications before the deadline. Reuters quoted her as saying, “It’s becoming very, very urgent to finalise the licences applications.” The warning applies to crypto companies still operating without full MiCA approval. These firms must either obtain authorization or stop serving customers in France.
The AMF’s Enforcement Signal
The AMF’s statement is a concrete enforcement signal. Firms that fail to secure a license by June 30 face a clear choice: exit the French market or risk regulatory action. The regulator can add unauthorized firms to blacklists, warn the public, and seek action against websites that keep targeting French users without permission. Under French rules, unauthorized providers may face fines and possible legal action.
What the AMF expects from firms
The AMF said firms without approval must prepare “orderly wind-down plans.” These plans should allow customers to recover or transfer their crypto assets. Barbat-Layani also said firms should not wait until the final date to act. The transition period ends on July 1, 2026. After that date, only authorized Crypto-Asset Service Providers can continue offering crypto services in the country.
Who Is Exposed and How
Any crypto firm currently serving French users without a MiCA license is directly exposed. This includes exchanges, custody providers, wallet services, and trading platforms that rely on the transitional regime. The warning is a broad sweep, covering all CASP activities defined under French law.
Second-order effects on EU passporting
MiCA lets a crypto firm get licensed in one EU country and then offer services across all 27 member states. This system is known as passporting. France has raised concerns about uneven approval standards across the bloc. Barbat-Layani said France could block passporting from another country if it disagrees with that regulator’s decision. She described such a step as reflecting a wider regulatory failure. This creates uncertainty for firms planning to use the passporting route with a license from a less strict EU jurisdiction.