The French Financial Markets Authority (AMF) has given crypto asset service providers until June 30 to apply for licenses under the European Union's Markets in Crypto-Assets (MiCA) regulation. The deadline marks the first concrete timeline from a national regulator for implementing the bloc's new crypto framework.
What MiCA requires
MiCA is the EU's comprehensive regulatory package for digital assets. It sets uniform rules across member states for issuing, trading, and safeguarding crypto. Firms that offer services like custody, exchange, or portfolio management must get a license from their home regulator. The AMF's deadline applies to any company operating in France that needs to be authorized under the new regime.
A looming cutoff for applicants
The June 30 date is not a soft target. The AMF says it expects all relevant firms to have their applications submitted by then. That leaves little more than two months for companies to prepare documentation, update compliance procedures, and line up supervisory approvals. The regulator has not said whether it will accept late filings or grant extensions. For now, the message is clear: get your paperwork in on time.
The AMF's move follows MiCA's entry into force in June 2023. National authorities across Europe have been working to transpose the regulation into local law. France is one of the first to announce a binding application window. Other EU watchdogs are expected to set similar deadlines in the coming weeks, but none have yet matched the AMF's specificity.
What happens after June 30
The AMF has not detailed consequences for firms that miss the cutoff. Under MiCA, unlicensed operators face penalties that can include fines, suspension, or outright bans from providing services in the EU. France's deadline likely aims to avoid a last-minute rush of applications and ensure a smooth transition. Companies that fail to apply may find themselves unable to legally serve French clients after the deadline passes.
The clock is ticking for crypto businesses in France. The June 30 date is a fixed point on the calendar, and the regulator expects compliance. It's a stark reminder that the era of unregulated crypto in Europe is winding down.
