France’s financial regulator just drew a line in the sand. The Autorité des Marchés Financiers, known as the AMF, has told crypto companies operating in the country that they must secure full MiCA authorization by June 30, 2026, or shut down and leave.
The numbers paint a bleak picture for compliance optimists. As of January 2026, roughly 90 registered digital asset service providers in France lacked the required MiCA license. Of those, only 30% had even submitted an application. A full 40% said they don’t plan to apply at all, and the remaining 30% simply didn’t respond when the AMF came knocking.
The clock is ticking on Europe’s crypto rulebook
Starting July 1, 2026, only firms holding full MiCA authorization as crypto-asset service providers (CASPs) will be allowed to operate in France.
AMF President Marie-Anne Barbat-Layani made the stakes clear at a press event on Thursday. Companies that fail to obtain their license by the deadline must have “orderly wind-down plans” to offload customers and cease operations, she said, according to Reuters.
France’s regulatory evolution
France has been methodically updating its legal framework to align with MiCA over the past year. The country enacted Ordinance 2024-936 in October 2024, followed by Decree 2025-169 in February 2025, both designed to harmonize domestic rules with the EU-wide regulation.
For new crypto firms entering the French market, the window for operating under the old rules already closed. Full MiCA authorization has been required for any new entrants since December 30, 2024. The June 30 deadline applies specifically to legacy operators, those firms that were previously registered under France’s earlier PSAN (Prestataires de Services sur Actifs Numériques) framework.
The AMF’s approach also aligns with broader guidance from ESMA, the European Securities and Markets Authority, which has been coordinating expectations across EU member states to ensure consistent enforcement of the transitional period.
What this means for investors and the broader market
When 40% of registered firms openly say they won’t pursue licensing, and another 30% can’t be bothered to respond to their regulator, you’re looking at a French crypto market that could lose more than half its current service providers by summer.
On the flip side, firms that do secure MiCA authorization stand to benefit considerably. A MiCA license isn’t just a French passport. It’s an EU-wide one. Licensed CASPs can offer services across all 27 EU member states through a single authorization. Any firm still operating in France without authorization after July 1 won’t just be non-compliant. It will be illegal.