France’s AMF Flags 90 Crypto Firms Without MiCA Licenses

The transition interval for compliance in France will finish on June 30.

The nation’s monetary authority, the Autorité des Marchés Financiers (AMF), mentioned that about one-third of those companies haven’t replied to its request to substantiate whether or not they plan to use for a MiCA license.

Stephane Pontoizeau, who heads the AMF division overseeing market intermediaries, instructed Reuters that the regulator first reminded the businesses concerning the deadline in November.

As soon as the transition interval ends, firms that haven’t met the brand new MiCA requirements should cease providing crypto-related companies in France. Operations with out a legitimate license won’t be allowed to proceed from July onward.

Among the many 90 firms on the AMF’s record, about 40% reportedly mentioned they don’t plan to use for authorization. One other 30% mentioned their functions are being processed. The remaining companies both didn’t reply or have but to resolve on their plans.

The AMF didn’t identify which companies have declined to use or didn’t reply to its inquiries.

Spain’s monetary regulator, the Comisión Nacional del Mercado de Valores (CNMV), just lately launched a Q&A explaining how the nation will apply the European Union’s Markets in Crypto-Belongings Regulation (MiCA). What does the replace cowl? Learn the total story.