France has announced it may block cryptocurrency firms with licenses from other EU countries from operating within its borders, citing regulatory concerns. The French Financial Markets Authority (AMF) is worried about companies exploiting weaker regulatory standards to obtain licenses under the EU's Markets in Crypto-Assets Regulation (MiCA). AMF Chair Marie-Anne Barbat-Layani highlighted the potential rejection of EU passporting as a significant deterrent to market entry. France, along with Austria and Italy, is advocating for the European Securities and Markets Authority (ESMA) to oversee major crypto firms. This move comes amid criticism of Malta's crypto licensing system, which ESMA found only partially compliant with regulatory expectations.