MiCA UPDATE 🚨 to 🇫🇷 crypto investors but the same principle applies to europeans 🇪🇺.
France's MiCA transition deadline lands one day earlier than the EU-wide cut-off: June 30, not July 1.
The AMF has identified ~90 crypto service providers still running under France's pre-MiCA PSAN regime who haven't yet secured full CASP authorisation.
The numbers are stark:
- 40% have explicitly said they won't apply
- 30% haven't responded to regulator outreach at all
- and only 30% have even submitted an application.
For retail investors using French-registered platforms, the action item is simple:
- check now whether your platform holds a valid MiCA CASP authorisation.
- ESMA's interim register (head to
esma.europa.eu and click on "Crypto-asset service providers" - the sheet is updated once a week, typically on Fridays).
If your platform is among the unlicensed 90 and hasn't announced a licence, assume it may stop operating by month-end.
Why it matters for protection:
- a MiCA-authorised CASP must segregate client assets, follow complaint-handling rules, and deliver standardised risk disclosures.
- a firm winding down under AMF supervision must protect holders throughout the process — BUT an unlicensed firm that simply goes dark has none of those obligations. 😱
The AMF has confirmed it will blacklist non-compliant firms and seek website blocks.
As it stands, France's crypto market could lose more than half its current platforms this month. If you're on a French-registered service, verify its status before June 30.