Marie-Anne Barbat-Layani, president of the French regulator, the AMF, said at a press event that completing the licensing process has become an urgent priority. Under the EU's Markets in Cryptocurrency Regulation, known as MiCA, cryptocurrency companies must obtain a license by the end of June to continue operating within the bloc.

European regulators have previously stated that unlicensed companies must have plans in place for an orderly wind-down. Barba-Layani noted that crypto firms that fail to obtain a license by the deadline and continue to actively attract clients from EU countries without the appropriate permission will be blacklisted and subject to enforcement measures, including criminal prosecution.