France Flags Unlicensed Crypto Firms Ahead Of MiCA Deadline

Financial regulators in France, specifically the Autorité des Marchés Financiers (AMF), have identified 90 crypto firms operating without the required Markets in Crypto-Assets Regulation (MiCA) license as a key deadline approaches in June. About 30% of these unlicensed firms have not responded to the AMF regarding their intent to obtain the necessary license. Stephane Pontoizeau of the AMF noted that 40% of the unlicensed firms have indicated they do not plan to apply for the MiCA license, while another 30% have applications in progress. Companies failing to comply by the end of the transition period in June will have to cease operations by July. France has already issued MiCA licenses to firms like CoinShares and Relai. This situation highlights broader enforcement challenges for the EU's MiCA framework, as the European Securities and Markets Authority (ESMA) expects non-compliant firms to have orderly wind-down plans.

(Source：Cointelegraph)