French regulators have identified 90 crypto businesses that still operate without the required license under the European Union’s Markets in Crypto-Assets Regulation (MiCA), according to a report by Reuters.
The transition period for compliance in France will end on June 30.
The country’s financial authority, the Autorité des Marchés Financiers (AMF), said that about one-third of these firms have not replied to its request to confirm whether they plan to apply for a MiCA license.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is BNB? The Truth Behind Binance Smart Chain (Animated)
Stephane Pontoizeau, who heads the AMF division overseeing market intermediaries, told Reuters that the regulator first reminded the companies about the deadline in November.
Once the transition period ends, companies that have not met the new MiCA standards will have to stop offering crypto-related services in France. Operations without a valid license will not be allowed to continue from July onward.
Among the 90 companies on the AMF’s list, about 40% reportedly said they do not plan to apply for authorization. Another 30% said their applications are being processed. The remaining firms either did not respond or have yet to decide on their plans.
The AMF did not name which businesses have declined to apply or failed to reply to its inquiries.
Spain’s financial regulator, the Comisión Nacional del Mercado de Valores (CNMV), recently released a Q&A explaining how the country will apply the European Union’s Markets in Crypto-Assets Regulation (MiCA). What does the update cover? Read the full story.
