France no longer wants its financial policemen to turn a blind eye. For current leaders, crypto remains a danger. A cyclone is brewing for those who refuse to give in. The AMF has just said it bluntly: the time for vagueness is over. You either get the MiCA license or you close. And not in six months. Much earlier. Therefore, the French crypto market is already shaking.
In brief
- March 30, 2026 marks the mandatory start of ordered cessation for unlicensed PSANs.
- July 1, 2026 definitively ends the PSAN transitional period without a MiCA license.
- Platforms must return cryptoassets or sell them with sufficient notice.
- The AMF can blacklist non-compliants and request the blocking of their websites.
March 30, 2026: the real deadline that will shake the entire crypto market
The AMF sets March 30 as the mandatory start of the ordered cessation. From this date, any company without MiCA approval will only be able to do the strict minimum. Return crypto-assets or sell them with sufficient notice.
The AMF instruction takes up to four months, often longer due to the clarifications requested. So you have to file now.
Out of 117 PSANs, 34 still do not have the MiCA license. Binance, registered since 2022, is still waiting. France enforces MiCA more harshly than many European states. The European passport will not be automatic for those who obtain it elsewhere.
The French crypto market is entering its major purge phase. Weak players will gradually disappear. The solids will survive and grow. The crypto industry is consolidating suddenly. Investors need to plan ahead today.
Are your cryptos in danger? This is exactly what happens without a MiCA license
If your platform does not obtain the MiCA license, it will need to return your assets to an authorized PSCA. Or sell them with sufficient notice. No custody pending approval.
After July 1, 2026, continuing without MiCA = up to 2 years in prison and a €30,000 fine. The AMF may publish a blacklist and alert the public.
Here is the official version of the AMF :
From July 1, 2026, service providers not authorized as PSCAs will have to cease their activity in France while awaiting their authorization. Failing this, these service providers will face a sentence of two years' imprisonment and a fine of 30,000 euros, in application of articles L. 54-10-4 and L. 572-23 of the monetary and financial code.
Your cryptos will not disappear. They will simply have to change houses. And quickly. The crypto industry must choose: comply or leave the table.
MiCA or closure: France toughens its tone like never before
The AMF is moving from the flexible PSAN regime to the strictest MiCA in Europe. Prudential requirements, equity, compliance: the threshold is much higher. 83 companies already have the MiCA license (Deblock, Bitstack, Caceis, etc.). 34 are on probation.
The regulator reserves the right to request the blocking of sites.
The AMF may in particular publish a list of unauthorized service providers, accompanied by a public warning, and, if necessary, seek legal action to block access to the websites of unauthorized service providers.
Source: AMF press release
France wants a clean and solid crypto market. She's ready to clean up. Binance is particularly exposed.
The objective is clear: to protect crypto investors.
Key dates and figures to remember for MiCA and PSANs
- March 30, 2026: mandatory start of the ordered cessation;
- July 1, 2026: definitive end of the transitional period;
- 83 PSANs already MiCA approved out of 117;
- Up to 2 years in prison and a €30,000 fine in the event of non-compliance;
- AMF instruction: up to four months (often more).
If the blockchain is closely monitored by France, artificial intelligence companies are also not left out. Thus, recently, due to reports on Grok, the French justice system investigated X. A simple error or sensitive content can be very expensive.
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