Financial regulators in France have reportedly flagged 90 crypto companies that remain unlicensed under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework ahead of an end-June deadline.
France’s Autorité des Marchés Financiers (AMF) warned that about 30% of the unlicensed companies have not responded to the authority’s query on whether they plan to obtain the required license, Reuters reported on Tuesday.
Stephane Pontoizeau, executive director of the market intermediaries and market infrastructures supervision directorate at the AMF, told Reuters the regulator notified the companies in November to remind them that the country’s transition period ends on June 30.
Crypto companies that fail to comply with the MiCA framework will be forced to cease operations by July, the report said.
About 40% of unlicensed crypto companies in France not seeking MiCA licenses
Of the 90 crypto businesses registered in France without a MiCA license, about 40% have indicated they do not intend to apply, AMF’s Pontoizeau said. Another 30% said that their license applications were in progress.
The regulator did not provide details on which companies have declined to seek a license or which remain unresponsive.
Cointelegraph reached out to the AMF for comment, but had not received a response at the time of publication.
MiCA licenses in France include CoinShares and Relai
Since the MiCA framework came fully into force in late 2024, France’s AMF has issued licenses to a handful of crypto companies.
Among them are CoinShares, a major crypto investment firm licensed in July 2025, and Switzerland’s Bitcoin (BTC) app Relai, which received a MiCA license from the AMF in October.
The news adds to concerns over the EU’s enforcement challenges around the MiCA framework.
The Paris-based European Securities and Markets Authority (ESMA), Europe’s primary supervisory body overseeing MiCA compliance, said in December that it expects crypto companies without MiCA authorization to have “orderly wind-down” plans in place once the transitional period ends.
An excerpt from ESMA’s statement on MiCA transitional measures. Source: ESMAAlso in December, the European Commission proposed giving ESMA a centralized supervisory role over all EU crypto companies.
The proposal has raised industry concerns, with critics warning it could slow licensing and hinder startup growth.
Related: Ripple targets MiCA passporting in EU with Luxembourg e-money nod
French authorities have supported giving ESMA centralized supervisory powers, while member states including Malta have openly opposed the move.
France has emerged as a leading critic of the EU’s passporting regime, warning that some companies may seek MiCA licences in jurisdictions with more lenient standards.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
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