French AMF Issues June 30 Compliance Ultimatum for MiCA Crypto Licenses
While the EU's Markets in Crypto Assets regulatory framework became effective in 2024, cryptocurrency service providers were granted a transition period to achieve full regulatory compliance.
France's Financial Markets Authority (AMF) has issued a stern warning to cryptocurrency businesses conducting operations within French borders without proper authorization, stating they must secure the necessary licenses by June 30 or cease their activities in the nation.
During a press briefing held on Thursday, AMF President Marie-Anne Barbat-Layani stated that cryptocurrency firms unable to secure licensing before the specified deadline must implement "orderly wind-down plans" to transfer their customer base and cease operations, as reported by Reuters.
According to the European Union's Markets in Crypto Assets (MiCA) regulatory framework, cryptocurrency service providers must hold valid licenses for operation, though they may obtain such authorization in any one of the 27 EU member countries and utilize a "passport" mechanism to operate across other member jurisdictions.
Cointelegraph reached out to AMF regarding the approaching deadline, though an immediate response was not forthcoming.
As the MiCA compliance deadlines draw near, friction is intensifying among EU member states regarding licensing standards and the question of whether oversight of Europe's cryptocurrency regulations should be consolidated under the European Securities and Markets Authority (ESMA).
Discord over MiCA oversight could undermine existing passport system
ESMA operates as a Paris-headquartered entity that could potentially generate a conflict of interest concerning cryptocurrency regulations throughout the EU, according to those opposing such centralization.
The rationale behind this concern stems from the fact that consolidating regulatory authority with the agency removes oversight powers from individual nation-states, which could jeopardize the cross-border passporting of licenses throughout the EU territory.
A representative from Malta's Financial Services Authority (MFSA) expressed to Cointelegraph that modifying the MiCA regulatory framework at this stage would be "premature," emphasizing that regulatory bodies require adequate time to evaluate the effects of MiCA, which entered into legal force in 2024.
During April 2026, Peter Kerstens, who serves as an adviser on technological innovation, digital transformation and cybersecurity within the European Commission's financial services department, indicated that MiCA could undergo significant revisions to govern a more developed crypto industry.
Kerstens indicated that EU regulatory authorities would pursue public consultation regarding any prospective revisions to MiCA that might modify current provisions or introduce additional requirements for cryptocurrency service providers conducting business in the region.