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France Opens for MiCA Applications, First Among Biggest EU Economies
The French regulator has in the past welcomed crypto companies to register with it.
Updated Aug 2, 2024, 4:06 p.m. Published Aug 2, 2024, 4:04 p.m.
- The French markets regulator said it started accepting applications for crypto asset services provider licenses on July 1.
- MiCA is set to come into force by December, and companies will need to be licensed under the regime by July 2026 to continue offering services in the European Union.
The French markets regulator said it started accepting applications for crypto asset services provider (CASP) licenses on July 1, the first major European Union economy to do so, as more provisions of the bloc's Markets in Crypto Assets (MiCA) rules are set to take effect at the end of the year.
In a post on its website on Friday, the Autorité des Marchés Financiers (AMF) noted 10 aspects of the legislation that kick in on Dec. 30, including providing custody and administration of crypto-assets on behalf of clients and operating a crypto-asset trading platform.
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The AMF has welcomed crypto companies in the past, and in May last year already had 74 companies registered under its own regime. Regulators in other large EU economies including Germany, Italy and Spain have not posted any official announcements on the process.
Companies wishing to offer services in the European Union after July 2026 will need a CASP license under MiCA.
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