French crypto companies have until June 30, 2026, to obtain a license under the EU's Markets in Crypto-Assets regulation — or they'll be forced to close. The Autorité des Marchés Financiers, France's financial markets regulator, is enforcing the deadline as part of the bloc-wide push to standardize crypto oversight. Firms that don't comply by then face an outright ban on operations in the country.
The deadline that's already here
With just over a month to go, the clock is ticking. The AMF has been clear: after June 30, any crypto asset service provider without a MiCA license can't legally offer services in France. That includes exchanges, custodians, and platforms handling digital assets. The regulator says it won't grant extensions.
This isn't a surprise — MiCA was approved in 2023 and phased in over time. But the hard stop in France is arriving faster than some firms expected. A number of smaller players still haven't applied, according to industry sources, though no names have been cited.
What the AMF expects
The AMF is requiring firms to submit complete applications well before the deadline. That means proving compliance with capital requirements, governance rules, and anti-money laundering standards. The regulator has published guidance on what it wants, but the process isn't quick.
For companies that already hold a French PSAN (the existing national license), there's a transition path. But they still need to upgrade to full MiCA authorization by the end of June. The AMF has said it will treat late or incomplete submissions as non-compliance.
The stakes for firms
France has been a relatively welcoming jurisdiction for crypto — Binance set up a regional hub here, and many startups registered under the PSAN regime. That's about to change. Unlicensed firms won't just face fines; they'll be ordered to wind down operations and return client funds.
The timing isn't great for some. Several smaller exchanges were hoping for a softer transition, but the AMF is sticking to the letter of the law. For the larger players, the cost of compliance is manageable. For the rest, it's a scramble.
What happens to the firms that don't make it? The AMF hasn't detailed a wind-down timeline, but it has made clear there won't be a grace period. After July 1, any unlicensed activity is illegal.
