Crypto faces curbs as France sets July 1, 2026 MiCA cutoff

From July 1, 2026 unlicensed CASPs must cease operations in France

According to FinanceFeeds, France’s financial markets regulator issued a formal reminder on February 5, 2026 that the MiCA transition period ends on June 30, 2026, meaning crypto‑asset service providers must hold MiCA CASP authorization to continue operating in the country beyond July 1, 2026. Firms without authorization by the cutoff are expected to halt in‑scope activities in France as the grace period expires.

As reported by NamecoinNews, the enforcement posture includes the possibility of penalties, blacklisting, and website blocking for non‑compliant operators, alongside directions to shut down from July 1, 2026. The message is that transitional tolerance is ending and formal authorization will become the baseline for market access.

Why AMF’s final MiCA warning matters now

As reported by BraveNewCoin, notices went out in November 2025 to roughly 90 crypto firms active in France without MiCA authorization, with an indicative breakdown that about 40% did not intend to apply, around 30% were unresponsive, and the remainder had applications underway. The figures indicate a sizable cohort at risk of disruption if authorization is not secured in time.

As reported by Coindoo, France has signaled it could refuse recognition of passported MiCA licenses obtained in other EU states if they are judged to have been granted under weaker standards, a legally complex and exceptional step that underscores concerns about regulatory arbitrage and passporting. This stance is framed as a last‑resort tool but highlights that relying on perceived softer jurisdictions may not guarantee French market access.

On supervision, as reported by Cointelegraph, France’s central bank has argued for stronger European oversight of major crypto actors and tighter controls on certain stablecoin structures to reduce cross‑border risks. “This framework would benefit from much stricter regulation of the multi‑issuance of the same stablecoin within and outside the European Union, to reduce arbitrage risks in times of stress,” said François Villeroy de Galhau, Governor of the Banque de France.

Immediate steps to secure MiCA CASP authorization in France

Industry reporting indicates that documentation burdens and review timelines are material, so firms preparing authorization files have been front‑loading governance, risk, and operational evidence to reduce back‑and‑forth and delay. As noted by DeFi‑Planet, smaller providers in particular face resourcing constraints that can extend timelines, which raises the practical importance of complete submissions and timely responses to supervisory queries.

As reported by CryptoNews, supervisory guidance emphasizes that any firm unlikely to meet the July 1, 2026 deadline should have an orderly wind‑down plan ready by the end of the transition to protect customers and avoid abrupt service cessation. In practice, this includes clarity on customer communications, asset withdrawals, data retention, and third‑party dependencies so that operations can be suspended without harming clients.

Given France’s stated concerns about regulatory shopping, relying solely on a passport from a jurisdiction perceived as lenient may not provide certainty of access to the French market. Firms planning cross‑border operations have been stress‑testing timelines, documentation completeness, and contingency plans to align with the July 1, 2026 deadline and mitigate execution risk.

At the time of this writing, broader market conditions remain mixed; based on NasdaqGS delayed quotes, Coinbase Global (COIN) last traded around $165.86 after‑hours following a $165.12 close on February 6, 2026. Market levels do not alter legal obligations under MiCA but provide useful context for operational planning and liquidity considerations.

Who is affected: CASPs operating or serving users in France

The scope covers any crypto‑asset service provider operating in France or serving French users, including firms offering services cross‑border from elsewhere in the EU. Under the July 1, 2026 deadline for MiCA CASP authorization, entities that have not completed authorization are expected to cease in‑scope activities in France, with reporting highlighting potential use of tools such as blacklisting and website blocking for those that continue without approval. The policy intent is to ensure consistent standards for investor protection and market integrity across providers serving the French market.