The countdown to the transition period of the EU's crypto regulation MiCA has begun. As June 30 approaches, the situation in France has started to show some variables. According to the latest warning from the French Financial Markets Authority (AMF), among the approximately 90 crypto companies in the country that have not yet obtained a MiCA license, as many as one-third are still "playing hide and seek"—neither applying nor proactively announcing closure.

Stephane Pontoizeau, Executive Director of the AMF's Market Intermediaries Department, bluntly stated: the current situation is quite bad. Looking at the data, 30% of companies have already submitted license applications, 40% have clearly stated they do not intend to apply, but what about the remaining 30%? These companies have chosen to remain silent—some do not respond when they should, and some do not express their stance when they should.

The European Securities and Markets Authority (ESMA) has long set the rules: if you haven't obtained MiCA authorization, you must present an "orderly closure plan" before the transition period ends. On the other hand, major institutions like Coinbase, Circle, and Revolut have already obtained MiCA licenses, but obviously, not all companies have taken this route.