France Tightens Crypto Oversight as MiCA Deadline Forces a New Era of Regulatory Accountability

France’s financial watchdog has raised the alarm over widespread non-compliance among crypto firms ahead of a pivotal European regulatory deadline. Nearly a third of crypto businesses operating in the country appear unprepared—or unwilling—to align with the European Union’s new Markets in Crypto-Assets (MiCA) framework before the June 30 cutoff.

AMF identifies 90 unlicensed crypto firms under MiCA scrutiny

France’s Autorité des Marchés Financiers (AMF) has identified 90 crypto companies still operating without MiCA authorization. According to reporting first shared with Reuters, many of these businesses were contacted in November as part of the regulator’s final compliance reminder before MiCA’s transitional period expires at the end of June.

Stephane Pontoizeau, Executive Director of Market Intermediaries and Market Infrastructures Supervision at the AMF, revealed that around 30% of unlicensed firms had yet to respond to the regulator’s inquiry. “We reached out to all of them to confirm whether they intend to become authorised under MiCA,” Pontoizeau said, warning that failure to comply will result in forced cessation of operations in France from July onwards.

This escalation underscores the strict compliance environment emerging across Europe under MiCA—introduced to unify crypto regulation across the EU and strengthen consumer protection standards.

40% of firms decline to pursue MiCA licensing

Of the 90 firms currently lacking MiCA registration, around 40% have directly informed the AMF that they will not apply for a licence. Another 30% have applications reportedly “in progress,” while the remainder—roughly one-third—have remained silent.

Although the AMF has not disclosed which specific companies declined to engage, the figures suggest that several market participants could be preparing to exit France’s crypto landscape entirely rather than navigate the costly and complex licensing process.

This regulatory friction could reshape France’s digital assets ecosystem, prompting a consolidation of compliant players and driving others to seek opportunities in alternative jurisdictions with less burdensome requirements.

Licensed players lead the compliant frontier

Since MiCA came into full effect in late 2024, only a small number of companies have successfully obtained AMF-issued licences. Among those leading the way are CoinShares—a prominent digital asset management firm that gained its licence in July 2025—and Switzerland-based Bitcoin investment app Relai, which achieved authorisation in October.

These firms now enjoy the ability to operate under MiCA’s EU “passporting” rules, which grant cross-border access to all member states once licensed in a single jurisdiction. This streamlined approach represents a milestone in Europe’s quest to bolster regulatory transparency and enable sustainable growth across digital financial markets.

The development mirrors other ongoing efforts across the continent, such as Ripple’s pursuit of MiCA passporting via Luxembourg, which aims to provide an additional foothold in European fintech expansion. For blockchain recruiters and crypto headhunters, these shifts mark an evolving compliance landscape that increasingly demands seasoned compliance, legal, and risk management professionals.

ESMA urges “orderly wind-down” as MiCA transition ends

The European Securities and Markets Authority (ESMA)—the EU’s overarching securities regulator—issued a call in December for firms operating without MiCA authorisation to prepare “orderly wind-down” strategies by the June 30 deadline. This guidance suggests that non-compliant crypto ventures must cease European operations or face enforcement action if they continue without approval after the transition period ends.

ESMA’s statement reflected rising concerns about fragmented enforcement across EU member states. While France has positioned itself as one of MiCA’s earliest and most rigorous adopters, other countries including Malta have been criticised for adopting lighter-touch approaches that, according to French regulators, risk undermining the integrity of the bloc’s new framework.

Despite these tensions, ESMA’s call for a harmonised regulatory environment may yet pave the way for cross-border hiring growth in compliance-focused blockchain talent acquisition. As companies align with MiCA, the need for specialised crypto recruitment—particularly for compliance officers, regulatory analysts, and blockchain legal advisors—continues to soar.

France backs stronger centralised oversight

In a move that has divided the European crypto sector, the European Commission recently proposed granting ESMA full centralised oversight over all EU-based crypto companies. Proponents believe this could eliminate inconsistencies between national regulators, while critics warn the transition could slow innovation and disadvantage startups struggling to meet costly compliance obligations.

France has voiced firm support for increased centralisation, arguing that coherent EU-level supervision ensures fair competition and market stability. However, opposition has been vocal. Countries such as Malta have stressed that excessive central control could stifle regional fintech ecosystems and create new bottlenecks for early-stage enterprises.

This debate arrives at a pivotal juncture for Web3 development and crypto recruitment across Europe. Many within the blockchain recruitment industry argue that talent pipelines risk thinning out if overregulation deters new entrants into the space. As MiCA matures, demand for versatile experts who combine technical, legal, and decentralised finance (DeFi) understanding will become essential to keeping innovation alive within the limits of compliance.

AMF’s stance underscores an inflection point for crypto regulation—and talent hiring

France’s assertive enforcement posture signals a turning point not just for crypto regulation, but also for how the industry builds its workforce. The move compels exchanges, wallet providers, and blockchain networks to professionalise rapidly—elevating scrutiny on governance, cybersecurity, and user protection.

According to market observers, this trend will likely accelerate demand for:

• Compliance specialists versed in MiCA interpretations and EU-wide supervisory mechanisms
• Blockchain engineers capable of integrating regulatory frameworks into on-chain operations
• DeFi auditors and smart contract risk assessors as firms tighten internal controls
• Crypto recruiters and Web3 headhunters specialising in high-demand regulatory and security roles across multiple jurisdictions

For blockchain recruitment agencies like Spectrum Search, these structural changes represent both a challenge and an opportunity. The immediate period following the MiCA deadline will test which organisations can seamlessly embed compliance into their models—and which may fade from the European map altogether.

From a workforce perspective, France’s decisive implementation effort underscores an evolving narrative: the era of unregulated experimentation is closing, and in its place emerges a technically advanced, legally grounded, and internationally aligned crypto economy.

Whether the centralisation proposal and MiCA enforcement ultimately invigorate or inhibit innovation remains to be seen. Yet there is little doubt that new opportunities are emerging for blockchain professionals and crypto talent well-versed in regulatory navigation, compliance integration, and sustainable crypto business models.

The AMF’s campaign highlights a broader continental movement—one that will continue to redefine not only regulation but also the global competition for web3 talent capable of building the future of finance responsibly within Europe’s evolving digital economy.