France's Financial Markets Authority (AMF) President Marie-Anne Barbat-Layani has issued a stark warning to crypto companies: complete MiCA license applications before the June 30 deadline. Reuters quoted her saying, "It's becoming very, very urgent to finalise the licences applications."
The warning targets crypto firms still operating without full MiCA authorization. These companies must either obtain approval or stop serving French customers. France's transition period ends on July 1, 2026, after which only authorized Crypto-Asset Service Providers can operate in the country.
Wind-down plans for unlicensed firms
The AMF requires unauthorized firms to prepare "orderly wind-down plans" that allow customers to recover or transfer their crypto assets. The regulator can blacklist non-compliant firms, issue public warnings, and take action against websites targeting French users without permission. Under French rules, unauthorized providers may face fines and potential legal action. The AMF stressed that firms should not wait until the last moment to act.
MiCA passporting sparks EU tensions
MiCA allows a crypto firm licensed in one EU country to offer services across all 27 member states through passporting. However, France has raised concerns about uneven approval standards across the bloc. Some regulators worry that faster licensing in smaller markets may create weak points. Barbat-Layani said France could block passporting from another country if it disagrees with that regulator's decision, calling such a step a reflection of wider regulatory failure.
Related MiCA moves show market split
As reported by crypto.news, Coinhouse recently became one of France's first fully MiCA-licensed crypto providers, enabling services across EU states. Italy's Banca Sella also gained MiCA approval, planning custody and transfer services for select clients by end of 2026. The wider EU rulebook remains under review. Brussels has opened a consultation on MiCA covering stablecoin rules, DeFi gaps, and cross-border supervision. The French warning signals MiCA's shift from planning to enforcement. For crypto firms, the deadline creates a clear choice: get licensed, leave the market, or risk regulatory action.