France Dragging Its Feet on Crypto Regulations—AMF Sounds Alarm

Paris might love revolutions, but it’s moving at a snail’s pace when it comes to MiCA compliance. The AMF isn’t mincing words—crypto firms still playing fast and loose with regulations are about to get a rude awakening.

While Berlin and Lisbon sprint ahead with MiCA frameworks, France’s ’wait-and-see’ approach looks increasingly like regulatory malpractice. The AMF’s warning shot? A not-so-subtle hint that enforcement hammers are being polished behind the scenes.

Funny how traditional finance moves at glacial speeds until crypto threatens their monopoly—then suddenly everyone’s in a hurry. Maybe next they’ll discover blockchain can cut settlement times below three business days.

In brief

• The AMF deplores the delay of French crypto players in complying with the MiCA regulation.
• Other European regulators have already issued several approvals, placing France at a competitive disadvantage.
• The support of the AMF is expected to guide PSANs towards MiCA approval, crucial for the sustainability of the French crypto sector.

MiCA: why the compliance deadline will not move

Crypto companies wishing to continue operating legally within the European Union must obtain PSCA approval under MiCA. However, although the regulatory window is still open, the AMF warns that no extension will be granted beyond June 2026. It is therefore strategic for platforms not to wait until the last minute to become compliant.

Elsewhere in the EU, regulatory authorities have taken the lead:

• The Luxembourg regulator;
• The German BaFin authority;
• The MFSA in Malta.

They have all issued several approvals, creating a favorable dynamic for their national ecosystems. While Bitcoin embodies the pioneering and decentralized rise of crypto-assets, France finds itself at a regulatory crossroads.

To not lose its influence in this rapidly evolving ecosystem, it is imperative that French crypto players quickly adopt MiCA, thus securing their place in the global competition.

Crypto in France: the sector demands more support in the face of MiCA

Some actors in the crypto ecosystem emphasize that this inertia is not only due to reluctance:

• Lack of clarity;
• Administrative slowness;
• The complexity of procedures.

All these factors are regularly cited as obstacles. Alexandre Roubaud, co-founder of Bitstack, thus states:

The role of the AMF is to support crypto players who have PSAN approval until they obtain MiCA approval.

Highlighting a clear expectation for institutional support.Moreover, some platforms struggle to gather the necessary resources—human, legal, and financial—to meet MiCA requirements. Others, more vulnerable, may not survive this regulatory shift. In any case, prolonged inaction risks gradually marginalizing the French ecosystem within the European crypto landscape.

As Binance ends USDT in Europe to comply with MiCA, the AMF sets the bar even higher for the French crypto sector. Between regulatory pressure and the need for support, the challenge goes beyond compliance: it questions the future and competitiveness of France in the European race. How far will players be able to adapt before it is too late?

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.