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France treats crypto assets as financial instruments within a broader framework of money and capital markets regulation. The national regime requires certain actors to register, comply with anti-money laundering rules, and adhere to investor protections. In Sance, as in the rest of France, individuals and businesses engaging with digital assets must understand registration, taxation, and dispute resolution obligations.
The regulatory backbone includes a specialized regime for service providers on digital assets, overseen by the Autorité des marchés financiers (AMF). This PSAN regime applies to exchanges, wallets, brokers, and related services, with registration or authorization requirements designed to ensure AML/KYC compliance and consumer safeguards.
According to the AMF, PSAN providers must be registered with the regulator to operate legally in France.
France is also preparing for EU-wide changes under the Markets in Crypto-assets regulation (MiCA), which aims to harmonise crypto asset rules across member states. While MiCA creates a common baseline, French law will implement and enforce these rules locally, including registration, disclosure, and supervision standards.
MiCA provides a harmonised framework across the EU for crypto assets and service providers.
Tax treatment of crypto activities is handled by the French tax authority, with guidance on how crypto gains are reported and taxed. In practice, individuals and businesses must report crypto transactions and compute gains or losses for accurate taxation. The tax authorities publish up-to-date rules on crypto assets and related filings.
The French tax system treats crypto gains under options for flat or progressive taxation, with specific reporting requirements.
PSAN regime under the Pacte framework - France created a dedicated regime for providers of digital asset services, requiring registration or authorization with the AMF. This regime targets exchanges, wallets, broker services, and custody providers to enhance AML/KYC and investor protections. The regime became operational in 2019 and has since evolved with regulator guidance and annual updates.
Code monétaire et financier and AML obligations for crypto - Crypto activity in France is subject to the country’s money and financial regulation framework, including anti-money laundering requirements. French authorities expect firms to implement robust customer due diligence, reporting, and record-keeping for crypto transactions. These rules are enforced by the AMF and ACPR in parallel with criminal-law AML provisions.
MiCA implementation and EU alignment - The EU framework for crypto assets, known as MiCA, will harmonise key rules across France and other member states. France will implement MiCA requirements through national regulation, affecting licensing, disclosure, and consumer protections for crypto service providers and issuers. See EU overview for broader context.
A PSAN is a Prestataire de Services sur Actifs Numériques. In France, PSAN registration with the AMF is required for many crypto services. Registration helps ensure AML/KYC compliance and consumer protections for users in Sance.
Register with the AMF by submitting governance, compliance, and security information about your platform. You must demonstrate AML/KYC procedures and risk controls aligned with French expectations. Expect an evaluation period before approval.
Expect hourly rates from 150 to 350 euros for junior to senior French counsel. Project-based work, like drafting policies or preparing PSAN filings, may range from 5,000 to 25,000 euros depending on scope.
Registration can take several weeks to a few months, depending on data quality and regulatory workload. A well-prepared dossier with robust AML/KYC controls tends to shorten the process.
Yes. A lawyer helps classify the token, determine regulatory status, draft disclosures, and structure the offering to align with French and EU rules. This reduces the risk of misclassification and penalties.
Crypto gains are generally taxed under the PFU regime at 30% or can be taxed at progressive rates with options for assimilation into ordinary income. You must report transactions and calculate gains with the tax authorities.
A security token may fall under financial regulation as a security or investment, triggering disclosure and investor protection obligations. A utility token typically does not confer equity rights and may have lighter regulatory demands.
Yes. MiCA creates a common EU framework that France will implement through its national law. This will influence licensing, disclosure, and consumer protections for crypto services across the country.
Implement customer due diligence, identity verification, and suspicious activity reporting. Maintain records and cooperate with regulators during audits or investigations in accordance with French AML rules.
Official French crypto regulations are published by the AMF and Legifrance. You can also consult the French tax authority for crypto taxation guidance on impots.gouv.fr.
Yes. Including crypto assets in your estate plan with clear transfer instructions helps avoid probate delays and loss of access. An attorney can prepare a crypt asset provision aligned with French succession law.
Often yes. A local lawyer ensures compliance with French law and coordinates with foreign counsels for cross-border issues, tax considerations, and enforceable terms.
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