France is coming into a decisive part for crypto regulation as companies face a tough deadline for Mica authorisation underneath the European Markets in Crypto-Property framework.
Transitional regime in France ends on 1 July 2026
The French regulator AMF has reminded all Digital Asset Service Suppliers (DASPs) that the transitional regime will expire on 1 July 2026. Beneath this regime, companies energetic earlier than the entry into drive of the European MiCA Regulation may proceed providing crypto-asset providers in France with no full licence.
Nonetheless, these suppliers now have a strict timetable. DASPs that need to proceed working should get hold of authorisation as a Crypto-Asset Service Supplier (CASP) underneath MiCA. The AMF is urging any agency that has not but filed an software to submit a whole authorisation file as quickly as attainable.
Furthermore, the supervisor stresses that exact consideration should be paid to the standard and completeness of every software. DASPs that don’t plan to pursue their actions after the top of the transitional regime are invited to organize an orderly cessation of enterprise prematurely, permitting sufficient time to guard shoppers.
Authorized foundation and scope of the transitional interval
Pursuant to Article 143 of the Markets in Crypto-Property Regulation and Article 8 III of the DDADUE Regulation of 9 March 2023, registered or licensed DASPs in France have benefited from a short lived framework. These providing providers listed within the 5° of article L. 54-10-2 of the Financial and Monetary Code earlier than MiCA entered into drive may preserve serving shoppers till 1 July 2026.
That stated, as soon as the deadline passes, solely CASPs authorised in accordance with MiCA will likely be allowed to offer crypto-asset providers in France. This marks a transparent regulatory shift from nationwide registration to harmonised European licensing.
Situations to function as a CASP after the deadline
From 1 July 2026, suppliers could function in France provided that they’re CASPs authorised underneath MiCA. They’ll accomplish that both by securing a proper authorisation from their nationwide competent authority, which is the AMF for candidates established in France, or via a notification process.
Particularly, sure monetary entities could depend on the notification mechanism laid down in Article 60 of MiCA. Nonetheless, that is attainable provided that they’re eligible for the process and if the notification submitted to the related nationwide authority is deemed full by that authority.
Furthermore, CASPs are topic to a twin layer of obligations. There are normal necessities that apply to all providers and extra guidelines tailor-made to every particular kind of crypto-asset service. These embody organisational, conduct, and prudential requirements designed to reinforce investor safety.
European passport and whitelist of authorised suppliers
CASPs authorised underneath MiCA will have the ability to profit from the European passport mechanism. This enables them to offer their providers in different Member States of the European Union as soon as they’re duly licensed in a single jurisdiction, similar to France.
Moreover, the AMF maintains a public whitelist of authorised CASPs, giving customers a approach to confirm which entities are permitted to function. The checklist is out there on the AMF web site and is predicted to grow to be a key reference level for traders and counterparties throughout the area.
ESMA requires early preparation
In an announcement printed in December 2025, the European Securities and Markets Authority (ESMA) invited all market contributors to anticipate the top of the transitional interval. The authority highlighted that overview intervals for CASP licences underneath MiCA can last as long as 4 months as soon as a whole file is submitted.
Nonetheless, the AMF notes that preliminary information acquired from candidates are hardly ever full at first submission. Clarifications and even substantial amendments are sometimes requested earlier than the file is taken into account full and able to resulting in a beneficial resolution. This iterative course of could trigger extra delays for companies.
That stated, the French regulator is urging DASPs that want to proceed their actions to file their MiCA purposes with out ready for the final second. It reiterates that the thoroughness and high quality of the applying file will likely be essential for a clean and well timed overview.
Implications for non-compliant suppliers
The AMF has underlined the authorized penalties for suppliers that fail to conform by 1 July 2026. Any agency that continues to supply crypto-asset providers in France with out CASP authorisation after this date dangers a two-year jail sentence and a effective of €30,000, underneath Articles L. 54-10-4 and L. 572-23 of the Financial and Monetary Code.
Furthermore, authorities will monitor compliance and may take enforcement motion within the occasion of infringements. The AMF could publish a blacklist of unregistered suppliers and challenge public warnings. If essential, it may additionally provoke authorized proceedings to dam entry to the web sites of unauthorised service suppliers.
Orderly cessation of actions and shopper safety
DASPs that count on to not be able to adjust to MiCA on 1 July 2026 are strongly inspired to plan an orderly cessation of actions. The AMF recommends that these suppliers restrict themselves to strictly essential operations for winding down their enterprise as of 30 March 2026, on the newest.
This wind-down plan ought to prioritise the safety of crypto-asset holders. It should be sure that shoppers can recuperate their property both by transferring them to a CASP authorised to function in France or by promoting them, with adequate prior discover. Such measures goal to keep away from market disruption and shopper losses through the transition.
On this context, companies getting ready for mica authorisation or, alternatively, for an orderly exit will play a central function in shaping a safer and extra clear crypto ecosystem in France and throughout the European Union.
In abstract, the top of the transitional regime on 1 July 2026 marks a turning level for crypto-asset service suppliers in France, compelling them both to safe MiCA-compliant licences or to exit the market in an orderly and client-focused method.