Crypto companies in France, this is not a drill
One in three cryptocurrency companies in France are still undecided about whether to abide by the new MiCA regulation in Europe or to leave by July.
The French regulator recently declared, “Choose your camp, comply, or shut down.”
With regard to licensing, governance, and user protection, MiCA is now formally in charge of cryptocurrency in Europe.
Additionally, you cannot enjoy the cryptocurrency market without abiding by the rules, as the French say, “on ne peut pas avoir le beurre et l’argent du beurre.”
By only approving a small number of businesses and cautioning rule-shoppers that this isn’t regulatory tourism, France is acting tough.
Crypto is no longer able to operate freely in Europe. Obtain a licence or get lost, that is, go offline.