Crypto companies operating in France are running out of time to comply with Europe’s new crypto regulations. France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), has now made it clear that firms without the proper licenses must either secure approval by June 30 or prepare to leave the market.
The warning comes as the European Union moves deeper into its Markets in Crypto-Assets framework, better known as MiCA, which officially began rolling out across the bloc in 2024. While companies were given a transition period to adjust to the new rules, regulators are now preparing to fully enforce them.
France’s AMF Pushes Crypto Firms Toward MiCA Compliance
Speaking at a press event, AMF President Marie-Anne Barbat-Layani said companies that fail to obtain licenses before the deadline must have “orderly wind-down plans” in place to protect customers while shutting down services.
That means firms operating without approval cannot simply disappear overnight. Regulators want exchanges and crypto service providers to safely offload customer assets, settle obligations, and close operations in a controlled way if they fail to qualify under MiCA.
The licensing framework is designed to create a single regulatory structure for crypto companies across the European Union. Once a company receives approval in one EU country, it can use that license to operate across the bloc through a system known as passporting.
This has turned countries such as France, Malta, and Ireland into important entry points for crypto businesses trying to access the wider European market.
MiCA Rules Are Reshaping Europe’s Crypto Industry
The MiCA framework covers a wide range of crypto activity, including exchanges, wallet providers, stablecoin issuers, custody firms, and trading platforms.
Companies seeking licenses must meet requirements tied to anti-money laundering controls, consumer protection, financial disclosures, operational resilience, and cybersecurity standards. Regulators have argued that these rules are needed after years of market collapses, fraud cases, and major exchange failures shook confidence across the industry.
Large crypto firms have already begun restructuring their European operations to align with MiCA. Exchanges including Binance, Coinbase, and Kraken have all expanded licensing efforts across different European jurisdictions as the rules move closer to full enforcement.
The pressure has been especially strong on smaller firms that may struggle with the legal, operational, and financial costs tied to compliance. Some companies are reportedly reconsidering whether operating inside Europe remains viable under the stricter framework.
Europe May Still Change Parts of MiCA in the Future
The debate around MiCA may not end once the current rules fully take effect. Earlier this year, Peter Kerstens, an adviser on digital finance and cybersecurity at the European Commission, said the framework could eventually be updated as the crypto market becomes more mature.
According to Kerstens, any future changes would involve public consultations before new requirements or revisions are introduced. That suggests Europe’s crypto rulebook is still evolving, even as companies rush to meet current deadlines.
France’s latest warning shows that regulators are entering a stricter phase of enforcement after the softer transition period that followed MiCA’s launch.
For crypto firms operating in Europe, the message is becoming harder to ignore. The industry may still debate how the rules should evolve, but regulators now expect companies to either comply fully or step aside.
Oluwajeminipe Fasheun-Motesho
