The transition period for the EU MiCA crypto regulations has entered the final sprint. The latest warning from French regulators indicates that the current situation is somewhat tense — as of now, among approximately 90 crypto companies in France that have not obtained a MiCA license, the regulatory status varies greatly.

Specifically, 30% of these companies have proactively submitted license applications, showing a relatively positive attitude. Another 40% have explicitly stated they will abandon the application, citing their own operational considerations. But what draws the most attention is the remaining 30% — these companies have neither applied nor responded clearly to regulatory inquiries. This state of affairs has caused some concern for Stéphane Pontoizeau, Executive Director of the French Financial Markets Authority (AMF).

The timetable is in front of us: according to the European Securities and Markets Authority (ESMA), crypto companies that fail to obtain MiCA authorization must complete an orderly business closure plan before the end of the transition period on June 30 of this year. This is not a recommendation but a mandatory requirement. Currently, leading players like Coinbase, Circle, and Revolut have already obtained their MiCA licenses, laying the foundation for compliant operations. For those companies still watching or hesitating, time is indeed running out.