French regulators warn unlicensed crypto companies could face prosecution.

CoinFeed reported on May 28th, citing Reuters, that the French Financial Market Supervisory Authority (AMF) has warned that crypto companies that fail to obtain a license under the EU Crypto Asset Regulation (MiCA) by June 30th will be blacklisted and may face prosecution. AMF President Marie-Anne Barbat-Layani stated that companies have a “very urgent” need to complete their licensing applications. EU regulators have previously required unlicensed entities to prepare “orderly exit plans,” and those continuing to actively target EU clients without authorization will face enforcement action.