French AMF Sets June 30 Deadline for Crypto MiCA Compliance

France’s Financial Markets Authority (AMF) has issued a strict June 30, 2026, deadline for crypto firms to obtain licenses under the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. Companies that fail to comply must either cease operations or implement orderly wind-down plans, according to AMF President Marie-Anne Barbat-Layani.

The warning signals the end of a transitional period for France's current crypto service providers (PSANs under French law), which have operated under the PACTE Law regime. As of July 1, only entities licensed as Crypto-Asset Service Providers (CASPs) under MiCA will be permitted to operate legally in the country. Firms that miss the deadline risk severe penalties, including up to two years in prison and a €30,000 fine, per the French Monetary and Financial Code.

MiCA's Framework and Licensing Deadline

MiCA, which became legally binding across the EU in December 2024, aims to standardize cryptocurrency regulations across the bloc’s 27 member states. Firms can obtain a license in any member state and “passport” it to operate across the entire region. However, the AMF has emphasized that applications for MiCA authorization can take up to four months for review—longer if submissions are incomplete. With the deadline rapidly approaching, unlicensed firms may find themselves out of time.

This enforcement push comes amid broader tensions within the EU regarding the centralization of crypto regulation. The European Securities and Markets Authority (ESMA), headquartered in Paris, has suggested centralizing oversight, a move critics argue could undermine the passporting model and national regulatory autonomy. Malta’s Financial Services Authority recently called such proposals “premature,” citing the need for further evaluation of MiCA’s impact.

Market Implications

France’s hard stance highlights a growing urgency for compliance among crypto firms operating in Europe. As of early 2026, a significant number of firms across member states had yet to apply for MiCA licenses, according to regulatory sources. This backlog raises risks of operational disruptions or outright exits from the market for firms unable to meet the requirements on time.

For traders and investors, the transition phase could create uncertainty, particularly around customer asset transfers from non-compliant firms. The AMF and ESMA have both emphasized the necessity of "orderly wind-downs" to protect consumers and prevent market turmoil. Firms unable to provide clarity on asset custody or continuity plans may face reputational damage, further complicating their business viability.

What’s Next?

With only a month remaining until the licensing deadline, companies still navigating the MiCA application process face a ticking clock. For firms still intending to comply, the immediate challenge lies in submitting complete applications that meet AMF standards in time to secure approvals before operations are forced to shut down. Meanwhile, the broader regulatory debate about MiCA’s future governance structure looms, with potential revisions to address a maturing crypto market expected as early as 2027.

For now, crypto firms operating in France—and across the EU—must focus on compliance by June 30 to avoid severe penalties and operational shutdowns. The next major regulatory milestone will come on July 1, 2026, when the transitional period officially ends and MiCA’s full licensing requirements take effect.