Over 90 Crypto Firms Face Shutdown in France as MiCA Deadline Approaches
French financial regulators are sounding the alarm as more than 90 cryptocurrency companies risk closure due to non-compliance with the Markets in Crypto-Assets (MiCA) regulations. The Autorité des Marchés Financiers (AMF) reports that 40% of these firms have abandoned licensing efforts, while 30% remain unresponsive to regulatory inquiries.
The June 30 deadline marks a pivotal moment for France's crypto sector. Firms failing to secure MiCA authorization will be forced to cease operations under EU law. Stéphane Pontoizeau of the AMF emphasized that non-compliant companies were formally notified well in advance of the consequences.
This regulatory reckoning comes as the European Union establishes unified standards for digital asset markets. The AMF describes the high rate of non-compliance as particularly concerning given the transitional period's clear timeline.
