Quick Breakdown
- AMF reports 30% of 90 unlicensed crypto firms in France are unresponsive to licensing queries ahead of the June 30 MiCA deadline.
- 30% applied for MiCA licenses, 40% confirmed exit plans, leaving silent firms facing mandatory wind-downs per ESMA rules.
- France sent reminder letters in November; non-compliance threatens operations in the EU’s unified crypto regime.
A French financial regulator disclosed Tuesday that roughly 30% of crypto companies lacking an EU license have failed to inform the Authority of their plans, specifically whether they intend to pursue a MiCA license or cease operations by the July deadline. Speaking in Paris, Stéphane Pontoizeau, Executive Director of Market Intermediaries and Market Infrastructures Supervision at the AMF, highlighted that the regulator had previously notified these entities in November, stressing the need for a response before the license deadline of June 30, 2026.
The MiCA license transition timeline varies across EU member states. In France, crypto businesses that do not secure the necessary authorization will be mandated to halt operations in July. According to a Reuters report, only 30% of crypto firms in France have engaged with the regulator and initiated a license application, while 40% have stated they will not be pursuing authorization. The previous week, French regulators issued a public caution regarding unauthorized crypto offerings from entities operating without official clearance.
French regulator says some crypto firms unresponsive as EU licence deadline approaches https://t.co/viWYHc1t2J https://t.co/viWYHc1t2J
— Reuters Tech News (@ReutersTech) January 14, 2026
Entities without MiCA authorization must have an ‘orderly wind-down plan’: ESMA
Under the framework established by the European Securities and Markets Authority (ESMA), crypto entities that have not obtained MiCA authorization must execute an “orderly wind-down plan” prior to the close of the transition window.
Last month, the European Commission proposed transferring oversight of the crypto sector from national authorities to the ESMA. The EC’s objective is to mitigate regulatory fragmentation across the 27 member states by granting ESMA powers comparable to those held by the U.S. SEC.
To date, the MiCA license has been awarded to prominent players, including stablecoin issuer Circle, US exchanges Coinbase, OKX, Crypto.com, Binance, and the British fintech firm Revolut.
Revolut, now Europe’s most valuable private company with a $75 billion valuation from a secondary share sale, demonstrates robust financial growth via record revenues and massive global expansion. The firm has secured crucial banking and crypto licenses across international markets. Its success reflects a wider trend of crypto-focused firms seeking public listings and navigating regulations, illustrating Revolut’s transition from a startup to a dominant global bank integrating traditional and digital finance.
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