MiCA countdown begins! France names 90 unlicensed crypto companies, may be forced to exit the market before July

On January 14, news reports indicate that as the transition period for the EU’s Markets in Crypto-Assets Regulation (MiCA) approaches its end, French regulators have significantly accelerated their cleanup efforts. According to foreign media, the French Financial Markets Authority (AMF) has flagged approximately 90 cryptocurrency companies registered in France but not yet holding a MiCA license, requiring them to clarify their compliance arrangements before the June 30 deadline.

Stephane Pontoizeau, head of the AMF’s Market Intermediaries and Market Infrastructure Regulation Department, stated that the regulator had already issued formal notices to relevant companies as early as November 2025, reminding them that the French MiCA transition period was about to end. However, to date, about 30% of unlicensed companies have not responded regarding their plans to apply for a license, and regulatory uncertainty remains.

Data disclosed shows that among these 90 unlicensed crypto companies, approximately 40% have explicitly stated they do not intend to apply for a license, another 30% are in the process of applying, while the remaining companies’ positions are unclear. According to French enforcement standards, if companies fail to achieve compliance within the transition period, they will be required to cease related operations before July.

Since the full implementation of the MiCA framework at the end of 2024, France has issued licenses to a few compliant institutions. For example, crypto asset management firm CoinShares was approved in July 2025, and Bitcoin app Relai received authorization in October of the same year. This demonstrates that France has adopted a “strict screening, steady approval” strategy in implementing MiCA.

Meanwhile, the enforcement of MiCA at the EU level is also becoming increasingly challenging. The European Securities and Markets Authority (ESMA), as the core coordinating body, has explicitly expressed hope that unauthorized companies will adopt an “orderly exit” plan after the transition period ends. The European Commission has even proposed granting ESMA centralized regulatory authority over all EU crypto companies, sparking industry debates over approval efficiency and the innovation environment.

French officials generally support centralized regulation and have repeatedly warned that some companies may attempt to obtain MiCA licenses in jurisdictions with more lenient oversight. This stance has also made France one of the most stringent countries within the EU regarding MiCA enforcement standards. As the deadline approaches, the European crypto industry in 2026 may see a significant wave of compliance reshuffling.