MiCA Faces Stricter Rule Demands as France Floats Blocking Passporting Rights

• France may block EU crypto licence passporting over oversight inconsistencies.
• AMF, Consob, FMA urge ESMA to take direct supervision of major crypto firms.
• MiCA faces calls for stricter rules on non-EU activities and cybersecurity.

France warned it could challenge the ability of crypto firms licensed in one EU country to operate across the bloc, raising the stakes in Europe’s rollout of the Markets in Crypto-Assets (MiCA) framework.

The move signals unease that firms are shopping for jurisdictions with looser standards, exploiting gaps in national licensing regimes while still gaining “passporting” rights across all 27 EU member states.

Related: France to Investigate Binance Over Laundering Accusations

Regulators Push for ESMA Oversight

The French markets authority AMF, along with Italy’s Consob and Austria’s FMA, published a joint paper urging l…

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