France’s AMF Targets 90 Crypto Firms Failing MiCA Compliance

France's financial regulator has escalated its crackdown on non-compliant cryptocurrency entities as Europe's Markets in Crypto-Assets (MiCA) framework takes effect. The Autorité des Marchés Financiers identified 90 domestic firms operating without proper registration, with 40% refusing to initiate compliance procedures and 30% failing to respond entirely.

The regulatory purge creates a bifurcated market landscape. Established platforms like CoinShares and Relai demonstrate compliance readiness, while smaller players face existential threats. Enforcement actions could commence as early as summer 2024, with final warnings issued for November 2025 deadlines.

This regulatory squeeze mirrors broader EU efforts to standardize crypto oversight. The AMF's aggressive posture positions France as a vanguard in implementing MiCA's strict financial transparency and consumer protection mandates. Market participants anticipate significant consolidation as non-compliant operators exit the ecosystem.