France Becomes First Major EU Economy to Accept MiCA License Applications
France has become the first major economy in the European Union to accept license applications for crypto-asset service providers (CASP) under the MiCA regulation.
The French financial markets regulator, the Autorité des Marchés Financiers (AMF), announced the start of license application acceptance on 1st July.
MiCA Implementation
With six months until the implementation of the provisions relating to crypto-asset services of the European MiCA regulation, it is now possible to submit an application for approval to the Autorité des Marchés Financiers to become a provider of crypto-asset services.
The MiCA regulation is expected to come into effect by December, with companies needing to be licensed under this regime by July 2026 to continue offering their services in the EU.
AMF’s History of Embracing Crypto Companies
The AMF has previously shown a favorable attitude towards crypto companies. Last year, it had already registered 74 companies under its own regime. This proactive move puts France ahead of other major EU economies that have not yet officially announced their registration process for MiCA licenses, such as Germany, Italy, and Spain.
Importance of CASP/VASP License
Companies wishing to offer services in the EU after July 2026 will need to obtain a CASP license in accordance with MiCA requirements. This step is crucial to ensure that companies comply with new regulatory standards and continue to operate legally within the EU.
