AMF Notes Radio Silence from Crypto Firms Ahead of EU MiCA Deadline

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The French financial regulator has reported a lack of response from a significant portion of crypto companies as a key EU licensing deadline approaches, as reported by Reuters on Tuesday. About 30% of affected firms have not stated whether they will seek authorization or halt services this summer.

The European Union’s comprehensive MiCA regulations mandate that crypto asset service providers secure a license from a national authority to operate legally within the bloc. The rules entered into effect last year to establish a unified regulatory regime.

Stephane Pontoizeau of the AMF disclosed that the authority contacted companies in November, reminding them of the impending conclusion of France’s transitional period on June 30. This date requires firms to have a clear compliance path.

According to the regulator’s data, 30% of the roughly 90 relevant firms have submitted license applications, while 40% have chosen not to pursue one. Pontoizeau highlighted his apprehension regarding the final 30% group, which remains uncommunicative about its future intentions under MiCA.