French regulators revealed that approximately 30% of crypto companies in France have not yet applied for a MiCA license, risking their ability to continue operating as a key regulatory deadline approaches. MiCA, the EU’s regulatory framework for crypto-assets, has faced criticism for its high capital requirements and operational costs. Companies in France must notify regulators by June 30 if they plan to seek a MiCA license or cease operations, but around one-third have not made their intentions clear. Failure to comply could result in losing the legal right to operate in France and other EU countries. MiCA, implemented in December 2024, aims to provide regulatory clarity but has faced backlash for potentially disadvantaging smaller crypto firms and favoring traditional financial institutions due to its stablecoin provisions. The lack of response from French crypto firms has raised concerns about the attractiveness of operating in the EU.

Read more at Yahoo Finance: A Third of French Crypto Firms Still Unlicensed Under MiCA as Deadline Nears