30% of Unlicensed French Crypto Firms Silent on MiCA Deadline

Nearly a third of crypto companies operating without a European Union license in France have failed to respond to regulatory inquiries about their future plans. The Autorité des Marchés Financiers (AMF) issued a warning on Tuesday as the June 30 compliance deadline approaches.

French regulator says some crypto firms unresponsive as EU licence deadline approaches https://t.co/viWYHc1t2J https://t.co/viWYHc1t2J

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France’s financial watchdog flagged 90 crypto businesses currently registered in the country without proper licensing under the Markets in Crypto-Assets Regulation (MiCA) framework. Companies that fail to obtain the required authorization will be forced to cease operations by July.

The AMF began notifying these companies in November 2024, reminding them of the approaching transition deadline. However, about 30% have not replied to the regulator’s communications asking whether they intend to apply for a license or exit the market.

Stephane Pontoizeau, executive director of the AMF’s market intermediaries supervision directorate, confirmed the figures to Reuters. The regulator has not disclosed which specific companies remain unresponsive or have declined to seek licensing.

Four in Ten Firms Exit French Crypto Market

Of the 90 unlicensed crypto businesses flagged by French regulators, approximately 40% have confirmed they will not pursue MiCA authorization. These companies face an imminent shutdown of their European operations once the deadline passes.

Meanwhile, another 30% of the flagged firms reported that their license applications are currently in progress. These companies appear on track to meet regulatory requirements before the June cutoff date.

The MiCA framework represents the European Union’s comprehensive approach to crypto-asset regulation. EU lawmakers passed the legislation in April 2023 with overwhelming support, voting 517-38 in favor of the new licensing regime.

The regulation requires crypto-asset service providers to implement consumer protection measures and anti-money laundering protocols. Stablecoin issuers must maintain sufficient reserves backing their tokens.

MiCA’s most significant feature is the creation of a “passportable” license system. Once a crypto company receives approval from regulators in one EU member state, it can extend operations across all EU countries without obtaining additional licenses.

Early License Recipients Set the Standard

Since MiCA came fully into force in late 2024, the AMF has granted licenses to several crypto companies seeking to operate across the European bloc.

CoinShares, a major cryptocurrency investment firm, received its MiCA license from French regulators in July 2025. The company now operates with full authorization to provide services throughout the European Union.

Switzerland-based Bitcoin application Relai also secured AMF approval in October. The company’s license allows it to offer its Bitcoin purchasing services to customers across all EU member states.

The European Parliament framed MiCA as a competitive advantage over jurisdictions still debating crypto legislation. Stefan Berger, the lawmaker who led negotiations on the regulation, stated the rules put the EU “at the forefront of the token economy.”

The Transfer of Funds regulation passed alongside MiCA received even stronger support, with lawmakers voting 529-29 in favor. This rule requires crypto service providers to identify customers and pass along know-your-customer information with transactions.

French regulators continue monitoring the remaining unlicensed companies as the deadline approaches. The AMF’s warnings signal increased enforcement activity expected in the coming months against non-compliant operators.

The outcome will determine whether dozens of crypto businesses can continue serving European customers or must withdraw from the market entirely. Companies still processing applications face pressure to complete the licensing procedure before July arrives.