FranceUrges Crypto Firms to Secure EU License by June 30 Deadline

TLDR

• France alerts crypto companies to obtain MiCA approval ahead of the June 30 deadline
• Unlicensed crypto firms face risks of blacklisting and legal action in France
• The MiCA deadline adds pressure to crypto firms pursuing access to the EU market
• France could block crypto passporting over lax EU licensing standards
• Crypto firms face a final decision amid France’s MiCA enforcement push

(SeaPRwire) –   France has warned crypto companies to secure EU approval under MiCA before June 30, or lose their market access. The warning marks the start of a stricter enforcement phase for Europe’s new crypto rulebook. It also sets a clear deadline for unlicensed firms: either get authorized or exit the market.

France Sets MiCA Deadline for Crypto Firms

France’s Financial Markets Authority has instructed crypto companies to finish their MiCA license applications before the cut-off. The regulator stated that firms cannot continue serving customers without proper authorization after the transition period ends. Therefore, companies still waiting for approval must act before June 30.

MiCA establishes a unified regulatory framework for crypto-asset service providers across the entire European Union. The rules require firms to meet set standards for governance, customer protection, asset custody, and market conduct. In addition, the framework grants licensed providers cross-bloc market access via the passporting system.

France has taken a firm stance as the July 1 enforcement date draws near. After that date, only authorized providers will be allowed to keep offering crypto services in the country. Thus, firms without approval must halt operations or face regulatory action.

Unlicensed Firms Face Blacklists and Legal Action

The AMF stated that unauthorized crypto firms must draft orderly wind-down plans before exiting the market. These plans are meant to help customers safely recover, transfer, or close their crypto holdings. Regulators want firms to avoid unexpected service disruptions during the transition period.

France can add unlicensed providers to public blacklists if they continue targeting users without approval. The regulator can also pursue action against websites that continue hosting illegal crypto activity. Companies may face legal measures if they ignore the licensing deadline.

The warning adds extra pressure on crypto platforms still seeking approval across Europe. Some companies have already obtained MiCA licenses in EU member states, while others are still waiting for their applications to be reviewed. The deadline will likely separate approved operators from firms unable to meet EU standards.

Passporting Concerns Add Pressure Across Europe

MiCA permits a company licensed in one EU country to operate across all 27 member states. This system facilitates market access, but it also relies on consistent supervision across the bloc. However, France has raised concerns over uneven licensing standards between national regulators.

French officials have warned that faster approvals in some countries could weaken the overall regulatory framework. France could block passporting if it objects to another regulator’s licensing decision. Such a move would signal significant tension within Europe’s shared crypto regulatory system.

The latest warning makes clear that France wants MiCA enforcement to move beyond the preparation stage. The regulator now expects firms to comply, exit, or face consequences after the deadline passes. As a result, crypto companies have limited time left to secure approval before June 30.