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- DASPs in France must obtain MiCA authorization by 1 July 2026 to continue operating.
- Providers failing to comply face legal action, fines, and possible imprisonment.
- Those exiting the market must follow an orderly cessation plan to protect customers.
According to the report, Digital Asset Service Providers (DASPs) operating in France before the MiCA Regulation took effect have until 1 July 2026 to secure authorization as Crypto-Asset Service Providers (CASPs).
The French financial regulator, AMF, urges providers who have not submitted applications to act promptly. Authorities stress that applications must be thorough and complete to avoid delays.
Providers that continue without authorization after the deadline will face strict penalties. CASPs authorized under MiCA can operate legally in France and benefit from a European passport, allowing them to offer services across other EU member states.
MiCA Sets Rules for CASP Authorisation
Providers will either need to get authorisation directly from the AMF or, if eligible, notify the AMF under the MiCA’s Article 60. MiCA has general and service-type requirements for CASPs. There is a review period of up to four months for the authorisation process once the provider has submitted a complete file.
In most cases, the initial files are incomplete with regard to the required details. Hence, there is a need to either request clarifications or to make major changes. Providers who start the process early will be more likely to finish the process before the 1st of July 2026 cutoff date. A list of the approved CASPs is available on the AMF website.
MiCA Compliance Ensures Safe Market Transition
If providers are not capable of, or do not wish to, comply with the MiCA requirements, they will have to develop a plan for orderly cessation. From the 30th of March, 2026, these DASPs will have to carry out the necessary operations to wind down their activities.
The plan will also have to ensure the interests of crypto holders, allowing them to transfer their assets to CASPs or sell them. From the 1st of July, 2026, unregistered providers will be subject to penalties, including a fine of €30,000 and up to two years of prison.
The AMF can also take measures to prevent unauthorised websites, including taking legal action to warn the public. It is important to note that compliance will be necessary to ensure the interests of both the market and the consumer.
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