Around 30% of French crypto firms unlicensed as MiCA June 30 deadline nears

Beincrypto reports that roughly 30% of French crypto firms have not applied for a MiCA licence as the June 30 deadline approaches.

Under the EU’s Markets in Crypto-Assets (MiCA) regulation, firms must obtain national authorisation to operate across the bloc. In France, companies must notify regulators by June 30 whether they will seek a MiCA licence or wind down operations. French regulators said they contacted firms in November, and, according to Reuters, of about 90 companies not yet MiCA-licensed some 30% have applied for authorisation, 40% have indicated they do not intend to, and the remaining 30% have not responded or communicated their plans.

If firms miss the deadline they risk losing the legal right to operate in France or elsewhere in the EU. MiCA became fully applicable in December 2024; critics say its steep compliance and capital requirements and stablecoin provisions — including a requirement that 60% of stablecoin reserves be held in low-risk, bank-held assets and a ban on interest payments, according to observers — may disadvantage smaller firms and prompt some to consider jurisdictions outside the bloc.

Key Topics

Crypto, Mica, France, European Union, Stéphane Pontoizeau, Stablecoins