Overview
Crypto trading and exchanges are permitted but heavily regulated: CASPs must obtain AMF/ACPR authorization, comply with AML/CFT (including risk-based due diligence and TRACFIN reporting), cybersecurity, and investor protections; DeFi providers are generally exempt from licensing. Stablecoins face extra scrutiny (e.g., ACPR authorization for EMTs, concerns over non-euro pegs), with proposals for private wallet reporting (>€5,000) under review. France promotes euro stablecoins while pushing MiCA tightening.
Regulatory Bodies
Operating Models
9/9 verdictsCan specific business models operate in France? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
Conditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · no licensing.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedPrimary Legislation
| Law / Regulation | Year | Scope |
|---|---|---|
| MiCA Regulation (EU) (2023) | 2023 | MiCA Regulation (EU) (2023) — CASP authorization, comprehensive crypto regulation |
| Loi PACTE | 2019 | PACTE Law (Loi PACTE) (2019) — Prior PSAN/DASP regime — EU's most mature pre-MiCA framework, replaced by MiCA |
| Ordinance No. 2016-1635 (December 2016): Added crypto platforms to AML obligatio | 2016 | Ordinance No. 2016-1635 (December 2016): Added crypto platforms to AML obligations under Article L.561-2 of the Monetary and Financial Code (MFC). |
| Ordinance No. 2017-1674 (effective December 8, 2017): Enabled blockchain registr | 2017 | Ordinance No. 2017-1674 (effective December 8, 2017): Enabled blockchain registration for unlisted securities. |
| Act No. 2019-486, May 22, 2019 | 2019 | PACTE Act (Act No. 2019-486, May 22, 2019): Introduced DASP registration with AMF and ICO framework; foundation for current rules. |
| DAC8 implementation (Finance Bill 2025, effective January 1, 2026): Requires CAS | 2025 | DAC8 implementation (Finance Bill 2025, effective January 1, 2026): Requires CASPs and tied providers to report user crypto transactions to tax authorities. |
Licensing Requirements
AMF — CASP authorization — most experienced EU NCA for crypto. Circle chose France for EU MiCA authorization.
AML/KYC Requirements
No verified facts yet. 9 unverified fact(s) in explorer
Travel Rule
No verified facts yet. 1 unverified fact(s) in explorer
Tax Reporting
No verified facts yet. 1 unverified fact(s) in explorer
Custody Requirements
Custody regulation data collection in progress.
Stablecoin Regulation
Stablecoin regulation data collection in progress.
Securities Classification
Securities classification data collection in progress.
Sanctions & Restrictions
Sanctions data collection in progress.
Research & Articles
Regulatory Forecast
high confidenceLikely regulatory action expected around 2026-09-06
Based on 33 historical regulatory events for France, averaging every 97 days, with increasing regulatory activity.
Recent Updates
EU Fifth AML Directive (5AMLD): Implemented in France in January 2020, requiring AML/CFT policies, CDD, and regis...
EU Fifth AML Directive (5AMLD): Implemented in France in January 2020, requiring AML/CFT policies, CDD, and registration for all crypto firms serving French clients.
Banque de France (BdF): Monitors stablecoins used as payment means and specific DLT setups; coordinates with AMF/...
Banque de France (BdF): Monitors stablecoins used as payment means and specific DLT setups; coordinates with AMF/ACPR.
AML/CFT for CASPs (since December 30, 2024): Mandates KYC, transaction monitoring, and sanctions compliance.
AML/CFT for CASPs (since December 30, 2024): Mandates KYC, transaction monitoring, and sanctions compliance.
This profile is maintained by AI research workers and updated regularly. Connect via MCP for programmatic access.