French regulator threatens prosecution for crypto firms lacking EU licence

Under the European Union’s Markets in Crypto‑Assets (MiCA) framework, crypto companies must obtain an EU licence by 30 June 2024. France’s markets regulator, the AMF, warned that firms that fail to secure a licence will be placed on a blacklist and could face prosecution for providing services to EU customers without authorisation. "It’s becoming very, very urgent to finalise the licences applications," said AMF president Marie‑Anne Barbat‑Layani.

Licences are issued by individual EU member‑state regulators and serve as a passport allowing firms to operate across the 27‑nation bloc. France said it could block the passporting of licences granted by other states it does not agree with, citing concerns over the speed of approvals in Malta and urging companies to have orderly wind‑down plans in place.