Regulatory Crackdown on Unlicensed Crypto Operations
In recent crypto news, French regulators have identified 90 crypto companies operating within the nation without the required MiCA (Markets in Crypto-Assets) license. These companies have been given a deadline of June 2026 to comply with the new regulations.
The Autorité des Marchés Financiers (AMF), France's financial markets regulator, has stated that approximately 40% of crypto companies currently operating in the country lack the necessary compliance licenses and have yet to submit their compliance plans.
Stephane Pontoizeau, the executive director at the AMF responsible for overseeing market intermediaries and infrastructures, confirmed that the regulator issued reminders to these companies in November. These notices specifically highlighted that France's transition period under MiCA concludes on June 30.
Analysis of Compliance Status
Of the 90 crypto firms operating in France without a MiCA license, about 40% have indicated they do not intend to apply for one, according to AMF executive Stephane Pontoizeau. An additional 30% reported that their license applications are currently in progress.
The regulator has not disclosed which specific companies have refused to seek a license or which ones have yet to respond to the compliance requests. This lack of transparency leaves the market uncertain about which firms might face enforcement actions once the June deadline passes.
Since MiCA was fully implemented in late 2024, France's AMF has approved licenses for only a limited number of crypto firms.
CoinShares, a prominent crypto investment company, received its license in July 2025. Switzerland's Bitcoin application, Relai, obtained approval to operate under the new rules a few months later.
The slow pace of license approvals has raised questions about the European Union's capacity to effectively enforce MiCA. In December, ESMA, the Paris-based regulator responsible for overseeing compliance, advised that unlicensed crypto companies should develop plans to wind down their operations in an orderly manner once the transition period ends.
French authorities support granting ESMA centralized supervisory powers. However, some member states, including Malta, have expressed significant opposition to this proposal. France has also emerged as a leading critic of the EU's passporting system.
Regulators are concerned that some companies might attempt to obtain MiCA licenses in countries with less stringent rules, potentially undermining the regulatory framework across the EU. This situation underscores the challenge of balancing EU-wide oversight with the individual interests of member countries within Europe's rapidly expanding crypto market.
U.S. Senate Banking Committee Introduces CLARITY Crypto Bill
On January 13, the U.S. Senate Banking Committee released the full text of the Digital Asset Market Clarity Act, commonly known as CLARITY. This unveiling occurred just ahead of the committee's anticipated markup session this week.
The 278-page draft bill departs from the strategy of regulating individual tokens. Instead, it establishes a distinct "lane system" that assigns regulatory jurisdiction based on the function of a digital asset throughout its lifecycle.
Senate Banking Committee Chairman Tim Scott stated that the bill aims to provide clear protections for Americans. He emphasized that investors and innovators cannot afford to wait while malicious actors exploit the current environment. The legislation is designed to benefit Main Street, target criminals and foreign threats, and secure the future of finance.
This proposal arrives at a critical juncture for the cryptocurrency industry.
Matt Hougan, Chief Investment Officer at Bitwise, drew a parallel between the legislation and the traditional "Punxsutawney Phil" weather prediction, suggesting that if the bill becomes law, the market could experience new all-time highs.
Crypto prediction markets are reflecting optimism regarding the bill's prospects. Users on Polymarket currently estimate an 80% probability that the CLARITY Act will be signed into law this year.