French crypto firms face MiCA deadline as 90 await licences
French crypto companies are moving toward a June 30 deadline under the European Union’s Markets in Crypto-Assets regime, with Reuters reporting that roughly one-third of the nearly 90 registered firms in France that are not yet MiCA-licensed have still not said whether they will apply or wind down operations.[1][7] The deadline matters now because firms that miss it risk losing the legal right to operate in France and, by extension, to passport services across the bloc.[5][8]
At a Glance
- Roughly 90 registered crypto companies in France are not yet MiCA-licensed, and around 30% have not responded to the regulator’s latest request for their plans.[1][7]
- About 30% have applied for authorisation, while 40% do not intend to apply, leaving a significant share of the market in limbo.[1][4]
- France’s transitional period for existing crypto-asset service providers ends on 1 July 2026, after which MiCA authorisation is required to continue operating.[5]
- Firms that continue serving EU customers without authorisation may face prosecution or be forced out of the market, according to Reuters and the AMF.[7][5]
- MiCA was designed to create a harmonised EU framework and passporting regime for crypto-asset service providers, making French compliance decisions relevant beyond one national market.[5][8]
- The immediate risk is a shrinking licensed supply of crypto services in France if smaller operators choose not to absorb the cost and compliance burden.[1][7]
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
The French regulator’s warning comes as the MiCA framework moves from transition to enforcement. The AMF says crypto-asset service providers that were operating under national law before MiCA may continue only until 1 July 2026 unless they obtain or are denied authorisation first.[5] Reuters reported that Stéphane Pontoizeau, who oversees market intermediaries at the AMF, said firms were contacted in November and urged to declare their intentions before the deadline.[7]
French crypto firms and the MiCA cutoff
The number of firms affected is not trivial. Reuters said France has about 90 registered crypto businesses that are not yet licensed under MiCA, and the regulator’s latest tally shows a split across the group: 30% have applied, 40% are not seeking a licence, and 30% have not replied.[7][1] That pattern points to a market that is already stratifying between firms willing to pay for regulatory access and those prepared to exit rather than adapt.
| Category | Verified data | Direct implication |
|---|---|---|
| Registered firms not yet MiCA-licensed | ~90 | The compliance pool is large enough to reshape the domestic market.[7] |
| Firms that have applied | 30% | A material share is attempting to remain in the EU system.[1][7] |
| Firms not intending to apply | 40% | A significant cohort may leave the regulated market.[1][7] |
| Firms unresponsive | 30% | The regulator still lacks visibility on a large minority of operators.[1][7] |
What MiCA means for France’s crypto market
MiCA matters because it replaces fragmented national rules with a single EU framework for crypto-asset service providers.[5][8] In practice, that means a licence in one member state can support broader passporting rights across the bloc, making France’s deadline a gatekeeper for access to the wider European market.[6][8]
Market participants view the deadline as a filter on smaller and less-compliant firms. Larger operators with established legal and compliance teams are better placed to absorb the cost of authorisation, while smaller businesses may decide the economics no longer work. Interpretation based on available data: the result could be a narrower but more regulated market, with fewer unlicensed intermediaries serving French users.
There is also a downside scenario. If a meaningful share of the 90 firms choose not to apply, users could face fewer on-ramps, fewer local service options, and possible disruptions in custody, payments, or brokerage access.[1][7] That risk is partly offset by the regulatory upside of clearer supervision and a more standardised regime, but the transition is likely to be uneven.
Enforcement risk and the limits of the transition
The AMF has signalled that the transition period will not be open-ended. Reuters reported that firms failing to secure authorisation by the deadline could face prosecution, while the AMF’s MiCA guidance states that the transitional period for existing providers ends 1 July 2026.[7][5] That leaves little room for late movers, especially those that have not even responded to the regulator.
A key uncertainty is how aggressively French authorities will enforce against firms that miss the cut-off, and whether some operators will continue serving users through other EU jurisdictions with different licensing timelines. Another open question is how many firms in the unresponsive cohort are simply slow to reply versus unwilling to comply.[1][7] The next move will determine whether France becomes an early test case for MiCA enforcement or a more gradual consolidation of the country’s crypto industry.
Source list
- https://beincrypto.com/french-crypto-firms-still-unlicensed-under-mica/
- https://www.cryptotimes.io/2026/05/28/france-to-crypto-firms-get-mica-licence-or-be-blacklisted-across-eu/
- https://bravenewcoin.com/insights/france-warns-90-crypto-companies-face-shutdown-over-missing-eu-licenses
- https://finance.yahoo.com/news/french-regulator-says-crypto-firms-162052658.html
- https://www.amf-france.org/en/news-publications/depth/mica
- https://www.klgates.com/The-Regulation-on-Markets-in-Crypto-Assets-Becomes-Fully-Applicable-in-All-Member-States-of-the-European-Union-1-24-2025
- https://www.reuters.com/business/finance/crypto-companies-without-eu-licences-face-prosecution-french-regulator-warns-2026-05-28/
- https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica
