According to a ChainCatcher report citing Reuters, France's financial market regulator warned on Tuesday that, as the transition period for the EU's new MiCA (Markets in Crypto-Assets) regulation is set to end on June 30 this year, nearly one-third of the approximately 90 registered crypto companies in France that have not yet obtained a MiCA license have still not communicated their plans to the regulator. Stephane Pontoizeau, Executive Director of the AMF's Markets, Intermediaries, and Infrastructure Division, stated that currently, 30% of the companies have applied for a license, 40% have decided not to apply, while the remaining 30% have neither informed the regulator of their plans nor responded to inquiries, a situation that he finds concerning. According to requirements from the European Securities and Markets Authority (ESMA), companies not authorized under MiCA must implement an "orderly wind-down plan" before the end of the transition period. Previously, companies such as Coinbase, Circle, and Revolut have already obtained MiCA licenses.
French Regulator Warns That Over 30% of Unlicensed Crypto Firms in France Have Not Responded to MiCA Deadline
ChaincatcherShare
Summary
French crypto news today reports that the AMF has raised concerns as nearly 30% of unlicensed crypto firms in France have failed to respond ahead of the MiCA deadline. Of around 90 unregistered firms, 30% applied for a license, while 40% have chosen not to. The remaining 30% have not communicated their plans. AMF's Stephane Pontoizeau emphasized the need for compliance. ESMA requires a wind-down plan for non-compliant firms. Coinbase, Circle, and Revolut are now MiCA-compliant.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.