French regulator says some crypto firms unresponsive as EU licence deadline approaches

By Elizabeth Howcroft

PARIS, Jan 13 (Reuters) - Nearly a 3rd of crypto companies without an EU licence successful France are inactive to archer the regulator ​whether they mean to get the licence required nether caller EU ‌rules oregon volition cease operating by July, the country's markets regulator warned connected Tuesday.

Under the European Union's ‌crypto rules, MiCA, crypto companies indispensable person licences from nationalist regulators successful bid to beryllium capable to run crossed the bloc.

Those rules, a landmark regulatory package, came into unit past twelvemonth to bring crypto assets nether ceremonial regulation.

Stephane Pontoizeau, enforcement manager of the ⁠market intermediaries and marketplace infrastructures ‌supervision directorate astatine the AMF, told journalists successful Paris that the regulator had written to companies successful November to punctual them that the ‍country's modulation play ends connected June 30 this year.

Of astir 90 registered crypto companies successful France that are not MiCA-licenced, 30% person already applied for a licence and 40% were not ​seeking one.

A remaining 30% had not told the regulator their plans nor ‌responded to the November letter, Pontoizeau said, adding that helium was acrophobic by this group.

'ORDERLY WIND-DOWN PLANS'

The European Securities and Markets Authority said successful December it expects crypto companies without MiCA authorisation to person either implemented "orderly wind-down plans" oregon person specified plans successful spot by the extremity of the modulation period, which varies for antithetic ⁠EU countries.

MiCA licences person been granted to crypto companies ​including U.S. speech Coinbase, stablecoin issuer Circle, and British ​fintech Revolut.

Last year, France threatened to situation the "passporting" of licences granted by antithetic subordinate states, saying it was acrophobic companies were seeking ‍out jurisdictions with much ⁠lenient licensing standards.

In December, the European Commission projected that ESMA should supervise crypto companies astatine a centralised EU level, a determination which is opposed by immoderate countries.

Setting retired ⁠the regulator's 2026 plans, AMF President Marie-Anne Barbat-Layani besides reiterated France's enactment for boosting European superior ‌markets, and for giving much powers to ESMA.

(Reporting by Elizabeth Howcroft; Editing ‌by Tommy Reggiori Wilkes and Jan Harvey)