Crypto Firms Without EU License Remain Mute as MiCA Deadline Approaches – French Regulator
A French regulator mentioned Tuesday that about 30% of crypto firms with out an EU license haven’t knowledgeable of their plans, whether or not to use for a MiCA license or stop working by July.
Speaking to journalists in Paris, Stéphane Pontoizeau, Executive Director of the Market Intermediaries and Market Infrastructures Supervision Directorate on the AMF, famous that the regulator had already written to firms in November, reminding them to reply earlier than the license deadline on June 30, 2026.
The transition interval for the MiCA license varies for various EU international locations. France-based crypto companies that fail to acquire a license might be required to stop operations in July.
According to Reuters, solely 30% of crypto corporations in France responded to the regulator and have utilized for a license. Whereas, 40% mentioned they aren’t searching for one.
Last week, French regulators warned the public towards unregulated crypto choices from firms that aren’t licensed to take action.
Under the European Securities and Markets Authority (ESMA) necessities, firms that haven’t obtained MiCA authorization should implement an “orderly wind-down plan” earlier than the tip of the transition interval.
Last month, the European Commission proposed transferring crypto oversight from nationwide regulators to ESMA. By doing so, the EC goals to eradicate regulatory fragmentation throughout 27 member states by granting ESMA powers similar to these of the U.S. SEC.
So far, the MiCA license has been granted to stablecoin issuer Circle, US exchanges Coinbase, OKX, Crypto.com, Binance, and British fintech Revolut.
AMF is Pushing for Centralized Crypto Oversight
In September final 12 months, France issued a warning noting that it could try to dam some crypto corporations licensed in different EU nations from working domestically. The nation threatened to problem MiCA “passporting” granted by completely different member states.
The AMF President Marie-Anne Barbat-Layani urged to switch oversight of the trade to ESMA in Paris. This could be a “extra harmonized” method to supervision of the crypto sector, she added.
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