Binance and 89 Crypto Firms Still Lack MiCA License With Just 10 Months Left Until Deadline

• Why Is MiCA a Make-or-Break Moment for Crypto in Europe?
• How Is France Enforcing MiCA Differently Than Other EU Nations?
• What’s the Survival Strategy for Crypto Startups?
• Key MiCA Countdown Dates and Figures
• FAQs: Your MiCA Questions Answered

France is bracing for a regulatory earthquake as the clock ticks down to the MiCA (Markets in Crypto-Assets Regulation) compliance deadline in June 2026. With only 10 months remaining, nearly 90 crypto companies—including industry giant Binance—are still operating without the required EU license. The French Financial Markets Authority (AMF) is sounding the alarm, warning that non-compliant firms will face shutdowns. Meanwhile, startups scramble to meet stringent capital and transparency requirements, while some consider fleeing to more lenient jurisdictions. Here’s the full breakdown of the high-stakes race for compliance.

Why Is MiCA a Make-or-Break Moment for Crypto in Europe?

Adopted in 2023, MiCA represents the EU’s most ambitious effort to standardize crypto regulation across its member states. The framework mandates minimum capital reserves, rigorous governance, environmental transparency, and whitepapers for every asset. Since December 2024, only firms with PSCA (Provision of Crypto-Asset Services) approval can legally operate. The transitional period ends in June 2026, and the AMF reports that just 30% of affected companies have submitted applications. "We’ve contacted all firms, but some remain radio silent," says Stéphane Pontoizeau of the AMF. Binance, despite its 2022 French registration, hasn’t secured its MiCA license yet—a glaring omission that underscores the sector’s sluggish response.

How Is France Enforcing MiCA Differently Than Other EU Nations?

France is taking a harder line than its neighbors. The AMF has threatened to block companies that seek licenses in "lax" jurisdictions while continuing to serve French clients. "Paris won’t become the weak LINK in EU crypto regulation," an AMF insider told us. This stance has drawn criticism from startups struggling with France’s stricter capital requirements (€150,000 minimum vs. Cyprus’ €50,000). Data from CoinMarketCap shows that 70 firms—including Bitstack and Caceis—have already cleared France’s high bar, but 90 others risk expulsion. The Bank of France even argues MiCA doesn’t go far enough, pushing for tougher rules to prevent "FTX-style collapses."

What’s the Survival Strategy for Crypto Startups?

For smaller players, the path forward is brutal. "We’ve spent €200,000 on compliance consultants alone," admits the CEO of a Paris-based DeFi platform. Some are exploring "license arbitrage"—applying in Malta or Lithuania where standards are lower. But the AMF warns: "Firms bypassing French rules won’t access our market." This crackdown could force innovation abroad, though MiCA proponents argue it weeds out reckless actors. "Remember Terra Luna?" quips a BTCC analyst. "This pain is necessary." TradingView charts reveal that compliant firms saw 23% fewer volatility spikes in Q1 2026 compared to unlicensed peers.

Key MiCA Countdown Dates and Figures

FAQs: Your MiCA Questions Answered

What happens if crypto firms miss the June 2026 deadline?

They must cease operations in the EU or face legal action. The AMF requires non-compliant firms to submit an "orderly shutdown plan."

Can Binance still operate in France without MiCA approval?

Not after June 2026. Binance is reportedly negotiating with German regulators for a backup license.

Why are some startups calling MiCA "anti-innovation"?

High compliance costs (€300k+ for audits) disproportionately impact small firms. France’s additional capital rules exacerbate this.