French regulators are taking a firm stance on cryptocurrency compliance, identifying 90 companies operating without the required MiCA licenses. Based on the data provided in the document, this move highlights the ongoing efforts to regulate the crypto industry and ensure that firms adhere to established guidelines.
AMF Sets Deadline for Licensing
The Autorité des Marchés Financiers (AMF) has set a deadline for these companies to obtain their licenses by June 2026. Executive Director Stéphane Pontoizeau confirmed that reminders were dispatched to the firms in November 2023, emphasizing the importance of compliance in the evolving regulatory landscape.
Current Status of Flagged Companies
Out of the 90 flagged companies, around 40 have expressed their intention not to apply for a license, while another 30 are still navigating the application process. This situation raises significant concerns regarding transparency and the potential for enforcement actions once the compliance deadline arrives, as the identities of non-compliant firms remain undisclosed.
In light of the recent regulatory developments in France regarding cryptocurrency compliance, Google has also announced a new policy affecting crypto apps on its Play Store. This policy requires a VASP declaration for exchange and custodial wallet applications, aiming to enhance regulatory compliance and user safety. Read more.
