The European Union's Markets in Crypto Assets regulations first took effect in 2024, but gave crypto service providers time to fully comply with the framework.
The French Financial Markets Authority (AMF) warned that crypto companies operating in the country without a license have until June 30 to acquire the permits or exit the country.
AMF President Marie-Anne Barbat-Layani told a press event on Thursday that crypto companies that fail to obtain a license by the deadline must have "orderly wind-down plans" to offload customers and end their operations, according to Reuters.
Under the European Union’s Markets in Crypto Assets (MiCA) regulatory framework, crypto service providers are required to have licenses to operate, but can acquire a license in any of the 27 EU member states and “passport” the license to any of the other member nations.
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