France has taken a significant step in the world of cryptocurrency by launching the MiCA application process, making it the first major European Union economy to do so. The French markets regulator, Autorité des Marchés Financiers (AMF), began accepting applications for crypto asset services provider (CASP) licenses on July 1.
MiCA, which stands for Markets in Crypto Assets, is a set of rules that will come into force by December. Companies operating in the European Union will need to be licensed under this regime by July 2026 to continue offering their services. The AMF highlighted 10 key aspects of the legislation that will take effect on December 30, including providing custody and administration of crypto-assets for clients and operating a crypto-asset trading platform.
While France has been proactive in welcoming crypto companies, other large EU economies like Germany, Italy, and Spain have not yet made any official announcements regarding the application process. Companies looking to offer services in the EU after July 2026 will be required to obtain a CASP license under MiCA.
It’s important to note that CoinDesk, the source of this information, is a reputable media outlet that covers the cryptocurrency industry. In 2023, CoinDesk was acquired by the Bullish group, which owns a regulated digital assets exchange. Both companies have interests in various blockchain and digital asset businesses. CoinDesk operates independently with an editorial committee to maintain journalistic independence.
Camomile Shumba, a regulatory reporter for CoinDesk based in the UK, provided this information. She has previously worked for Business Insider and Bloomberg News and does not currently hold any digital currencies or projects. For more updates, you can follow her on Twitter @camomileshumba.