France’s crackdown on cryptocurrency firms, who were seen as plugged into the international black market, came to be regarded as the next generational threat. Members of France’s financial watchdog, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), are conducting a comprehensive investigation to determine which operators among the more than 100 PSAN-registered entities, at every level from local FIs onwards, possess full MiCA operational capacity throughout the European Economic Area.
This phase is a quantum leap forward for the European digital-asset sector – moving beyond simple certification towards both real supervision and enforceable standards. However, while MiCA will provide unified rules within European borders, it is up to local supervisors to judge if AML principles are met and organizational practices have been followed for a company to gain an operating license.
The ACPR Review Focuses On:
- Resilience of internal risk-control architecture;
- Effectiveness of compliance and supervisory units;
- Robustness in technological integrity and monitoring devices;
- Timeliness and adequacy of remedial actions taken following discoveries.
In the course of this evaluation, Binance has been instructed to enhance its internal controls – another indication that big cross-border operators must continually adjust their systems to comply with evolving supervisory standards. Insufficient adherence could result in an order banning or suspending operators from the forthcoming MiCA licensing regime, which is requisite for every PSAN-type operator domiciled in France by June 2026.
National Supervisors Reinforce Compliance Screening Ahead of Unified EU Oversight
But the French approach is part of a broader movement across the continent: the battleground for MiCA is to create common standards that enhance, not dilute, enforcement. The compliance bar is already being raised by national regulators before the transfer of its coordination functions to ESMA.
For digital-asset intermediaries and fintech players, the message is clear: in Europe’s financial ecosystem, robust AML-architecture and unequivocal internal controls are prerequisites for standing.
At Eternity Law International, our lawyers offer:
- Diagnostic review and modernization of AML/CTF frameworks;
- Establishment of MiCA conformance dossiers and their filing;
- Structured communication with regulatory agencies;
- Ongoing post-compliance maintenance.
Get in touch with our legal department to achieve your financial vehicle’s full readiness under the MiCA regime and maintain its standing within Europe.
