France was an early mover in crypto regulation through the PACTE Law of 2019, which established the mandatory PSAN (prestataires de services sur actifs numériques) registration framework under the Autorité des marchés financiers (AMF). This regime required all crypto service providers operating in France to register with the AMF and comply with KYC/AML obligations aligned with EU anti-money laundering directives. With MiCA taking effect on 30 December 2024, the PSAN framework is transitioning to the harmonized EU CASP licensing model. The AMF's reminder notice of 5 February 2026 confirms existing DASPs may continue operating only until 30 June 2026; from 1 July 2026 only firms holding full MiCA CASP authorization may provide crypto-asset services in France.
On the taxation side, France applies a flat tax regime (Prélèvement Forfaitaire Unique, PFU) at 30% (2025) or 31.4% (2026) for occasional investors, with a notable exemption for crypto-to-crypto swaps. The Direction générale des finances publiques (DGFiP) administers crypto tax obligations, which include three dedicated tax forms (2042 C, 2086, 3916-bis). From 1 January 2026, France has transposed the DAC8 directive into national law, requiring CASPs to report crypto transaction data to the DGFiP with automatic cross-border exchange across all EU member states.
Operating as a CASP without proper registration or authorization in France carries penalties of up to 5 years imprisonment and EUR 375,000 in fines, with aggravated sanctions where KYC/AML obligations are not respected.
1. Regulatory Architecture
France distributes crypto oversight across three authorities, each with a distinct mandate:
| Authority | Full Name | Role |
|---|---|---|
| AMF | Autorité des marchés financiers | Supervises CASPs and market conduct; manages PSAN-to-MiCA transition; maintains blacklist of unauthorized platforms |
| ACPR | Autorité de contrôle prudentiel et de résolution | Prudential supervision of financial institutions, including those offering crypto services |
| DGFiP | Direction générale des finances publiques | Tax administration; processes crypto tax declarations (Forms 2042 C, 2086, 3916-bis); receives DAC8 CASP reports |
Primary legislation:
| Statute / Instrument | Function |
|---|---|
| PACTE Law (Law No. 2019-486, 22 May 2019) | Established the original PSAN/DASP registration framework with the AMF |
| Article 150 VH bis CGI | Governs capital gains on digital asset disposals by occasional investors |
| Article L. 54-10-1 CMF | Codifies the legal definition of digital assets (actifs numériques) |
| MiCA Regulation (effective 30 December 2024) | Replaces the PACTE DASP regime with harmonized EU CASP licensing |
| Order of 15 October 2024, Decree of 21 February 2025, Law of 30 April 2025 | Transposed MiCA into French law |
| Finance Act for 2025, Article 54 | Transposed DAC8 into French law, effective 1 January 2026 |
PSAN-to-MiCA transition timeline:
| Date | Development |
|---|---|
| May 2019 | PACTE Law establishes mandatory PSAN registration |
| 30 December 2024 | MiCA Regulation takes effect across the EU |
| 30 April 2025 | French MiCA transposition law enacted (Law 2025-391) |
| 30 March 2026 | AMF-recommended date for non-compliant DASPs to file an orderly-cessation plan (AMF reminder, 5 Feb 2026) |
| 30 June 2026 | Last day existing DASPs may provide crypto-asset services without MiCA CASP authorization |
| 1 July 2026 | Transitional period ends — only firms holding full MiCA CASP authorization may operate; unauthorized operation = up to 2 years imprisonment + EUR 30,000 fine (CMF Art. L. 54-10-4, L. 572-23) |
2. Tax Reporting Obligations
Individual Tax Forms
French crypto taxpayers must complete three key forms annually:
| Form | Name | Purpose |
|---|---|---|
| Form 2042 C | Déclaration complémentaire des revenus | Reports the overall capital gain or loss from crypto disposals |
| Form 2086 | Déclaration des plus ou moins-values de cessions d'actifs numériques | Itemized list of all taxable transactions using the Article 150 VH bis formula |
| Form 3916-bis | Déclaration des comptes d'actifs numériques ouverts à l'étranger | Declares all crypto accounts held on foreign platforms (one form per platform, even if account is empty) |
Filing deadlines: April-June of the following year (exact date depends on département of residence).
Form 3916-bis Penalties
- EUR 750 per undeclared foreign account
- EUR 1,500 if the account value exceeds EUR 50,000
- Statute of limitations extended to 10 years for non-disclosure of foreign accounts
Tax Rate Summary
| Scenario | Rate | Notes |
|---|---|---|
| Occasional investor PFU (2025) | 30% | 12.8% income tax + 17.2% social contributions |
| Occasional investor PFU (2026) | 31.4% | 12.8% income tax + 18.6% social contributions |
| Progressive rate option | 0%-45% + social | Beneficial if marginal rate < 12.8% |
| Professional/habitual trader | 0%-45% + ~45% social | BNC regime |
| Mining income | 0%-45% + social | BNC regime |
| Corporate crypto gains | 25% | Standard corporate income tax |
| Disposals < EUR 305/year | 0% | Household-level exemption |
| Crypto-to-crypto swaps | Not taxable | Significant compliance simplification |
DAC8 Automatic Reporting (from 2026)
Under Article 54 of the Finance Act for 2025 (transposing EU Directive 2023/2226):
- From 1 January 2026, CASPs must submit detailed reports on crypto transactions to the DGFiP
- Data for the 2026 tax year will be transmitted by September 2027
- Information includes user identity, transaction amounts, wallet addresses, and capital gains data
- Cross-border exchange with other EU member states is automatic
Enforcement Penalties
| Violation | Penalty |
|---|---|
| Operating as CASP without authorization | Up to 5 years imprisonment, EUR 375,000 fine |
| Late tax filing | 10% surcharge, rising to 40% for deliberate non-filing |
| Tax fraud (fraude fiscale) | Up to 5 years imprisonment, EUR 500,000 fine (7 years / EUR 3M for aggravated fraud) |
| Undeclared foreign crypto account | EUR 750-1,500 per account per year |
3. Regulatory Direction
France is on a harmonization trajectory -- transitioning from its national PSAN framework to the EU-wide MiCA CASP licensing model while simultaneously implementing DAC8 automatic reporting.
Near-term developments:
- 1 July 2026 transitional end: DASPs may operate without MiCA authorization only until 30 June 2026; from 1 July 2026 all French-registered PSANs must hold full MiCA CASP authorization or cease operations (AMF reminder, 5 Feb 2026)
- DAC8 data flow: First automatic exchange of crypto transaction data covering the 2026 tax year expected by September 2027
- PFU rate pressure: Social contributions increased from 17.2% to 18.6% in 2026, with potential for further increases
- Guidance gaps: The DGFiP has still not issued specific guidance on staking rewards or DeFi activities as of mid-2026, the most significant gap in the French crypto tax framework
Licensing developments (20 March – 4 June 2026):
| Date | Development | Source |
|---|---|---|
| 22 April 2026 | AMF issues fresh public warnings about unauthorized entities offering crypto-asset services in France, reinforcing the run-up to the 1 July 2026 CASP deadline | AMF transitional-period reminder |
| 7 May 2026 | AMF grants Coinhouse SAS full MiCA CASP authorization — among the first French firms to clear the MiCA bar, with EU-wide passporting. Confirmed directly in the AMF official white list (COINHOUSE SAS, licensed 07/05/2026) | AMF white lists (DASP/CASP) — primary register |
| 28 May 2026 | At an AMF press event, Chair Marie-Anne Barbat-Layani warns that crypto firms missing the 1 July 2026 deadline must present orderly shutdown plans; operating without a MiCA licence becomes illegal in France from 1 July 2026, exposing firms to blacklisting and prosecution | Reuters via Global Banking & Finance |
Distinctive features:
- Crypto-to-crypto swaps are non-taxable events -- a major compliance simplification that France shares with Portugal but not Germany
- The portfolio-based capital gains formula (Article 150 VH bis) is unique to France: it prorates the total acquisition cost proportionally to the share of the portfolio being sold, rather than using simple cost-basis accounting
- France was among the first EU states to establish a comprehensive crypto registration system (PACTE 2019), providing a regulatory bridge to MiCA
4. RWA / Security Token Platform Licensing
France has been one of the most active EU jurisdictions for institutional RWA tokenization, driven by early regulatory clarity through the PACTE Act (2019) and a strong pipeline of institutional issuances by entities such as Societe Generale FORGE, Caisse des Depots et Consignations, and EDF. The former PSAN/DASP regime is being superseded by MiCA CASP authorization, with the transitional period ending 1 July 2026 (DASPs may operate without MiCA authorization only until 30 June 2026).
4.1 License Details
| Attribute | Detail |
|---|---|
| License name(s) | CASP authorization (MiCA, replacing PSAN/DASP); ISP (prestataire de services d'investissement) or FIA authorization for investment services on security tokens; MTF/OTF authorization (MiFID II) for trading venues; EMI license (MiCA EMT) for stablecoin issuance linked to tokenization |
| Regulatory authority | AMF (market conduct, CASP/ISP authorization); ACPR (prudential, EMI licensing) |
| Legal basis | PACTE Act; MiCA Regulation; EU Prospectus Regulation (EU 2017/1129); Monetary and Financial Code (CMF); MiFID II |
4.2 Requirements
| Activity | Authority | Requirements | Legal Basis |
|---|---|---|---|
| Security token issuance (public offer) | AMF | Prospectus approval under EU Prospectus Regulation | Regulation (EU) 2017/1129 |
| DASP/CASP registration | AMF | AML/KYC compliance, capital adequacy, organizational requirements | PACTE Act / MiCA |
| Investment services for security tokens | AMF/ACPR | ISP or FIA authorization | Monetary and Financial Code |
| MTF/OTF for security token trading | AMF | Full MiFID II authorization | MiFID II, CMF |
| Custody of security tokens | ACPR/AMF | DASP registration or CASP authorization | PACTE Act / MiCA |
4.3 Key Holders
| Firm | Activity |
|---|---|
| SG Forge (Societe Generale) | MiFID II + MiCA CASP; digital bond issuance (EUR 100M covered bonds, 2019); EURCV stablecoin (EMT under MiCA) |
| Caisse des Depots et Consignations | First French digitally native bearer bond (EUR 100M, November 2024); settled via Banque de France DL3S wholesale CBDC |
| EDF (via BNP Paribas) | Tokenized green bond on Ethereum (July 2022) |
4.4 Transition
France adopted the full 18-month MiCA transitional period to 1 July 2026. DASPs registered or licensed before 2025 must apply for CASP authorization with the AMF during this period. The AMF is considered one of the more rigorous NCA review processes in the EU, and France's strong stablecoin ecosystem (Circle, SG Forge) positions it as a key EU hub for RWA tokenization.
See France RWA Regulation for full details on PACTE Act framework, MiCA transition, institutional tokenization projects, and AMF licensing requirements.
5. DeFi Protocol Licensing
France does not have a DeFi-specific regulatory framework, but the AMF has been a pioneer in DeFi policy exploration through its June 2023 discussion paper and July 2024 summary of responses. DeFi protocols are not directly regulated; however, centralized entities operating DeFi front-ends or providing DeFi-adjacent services must hold PSAN registration (until 1 July 2026) or MiCA CASP authorization.
5.1 Available License Types for DeFi Operations
| License | Authority | Capital Requirement | DeFi Relevance |
|---|---|---|---|
| MiCA CASP — Class 1 (advice, order reception) | AMF | EUR 50,000 | DeFi advisory services |
| MiCA CASP — Class 2 (exchange, execution, custody) | AMF | EUR 125,000 | DeFi front-end operators providing exchange or custody |
| MiCA CASP — Class 3 (trading platform) | AMF | EUR 150,000 | DEX front-end operators with identifiable entities |
| PSAN registration (transitional) | AMF | Viability assessed by AMF | Existing DeFi-adjacent providers in transition period until 1 July 2026 |
Additional capital: 25% of prior year's fixed overheads (whichever is higher). Insurance may replace all or part of capital.
5.2 Application Timeline
- Statutory (MiCA CASP): Up to 4 months after submission of complete file
- Actual (PSAN): 3--6 months for registration, depending on file complexity
- Transition deadline: 1 July 2026 -- PSANs without CASP authorization must cease operations; wind-down plans required by 30 March 2026
5.3 DeFi-Specific Requirements
- AMF DeFi discussion paper (June 2023): 34 responses received; consensus on "same activity, same risk, same regulatory outcome" principle; decentralization treated as a spectrum (AMF publication)
- Smart contract certification initiative: AMF and ACPR launched joint initiative under Fintech Forum in early 2024 to explore smart contract certification as regulatory tool; still exploratory as of March 2026
- Crypto-asset pledge regime (Law 2025-391): Dedicated regime for pledging crypto-assets as collateral, providing legal certainty for DeFi lending arrangements structured through recognized pledge frameworks
- DeFi tax gap: DGFiP has NOT issued specific guidance on DeFi activities (liquidity provision, yield farming, governance tokens, flash loans) as of March 2026 -- the most significant gap in French crypto tax framework
- PFU flat tax: 30% (2025) / 31.4% (2026) applies to DeFi gains for occasional traders; crypto-to-crypto swaps remain non-taxable (Koinly guide)
- Criminal penalties: Operating without CASP authorization after 1 July 2026: 2 years imprisonment + EUR 30,000 fine
5.4 Key Enforcement
- Bybit: Blacklisted by AMF in May 2022 for unauthorized operations; suspended French services August 2024; removed from blacklist February 2025 after remediation
- Binance: ACPR commenced on-site AML inspections in late 2024; deficiencies identified in risk and compliance frameworks
- 66 unauthorized platforms placed under AML scrutiny in 2025
5.5 Notable DeFi Projects with French Origins
| Project | Activity |
|---|---|
| Morpho | Lending optimization protocol |
| Velora (formerly ParaSwap) | DEX aggregation / intent-based trading |
For comprehensive DeFi regulation analysis, see France DeFi Regulation.
Insurance / Risk Transfer Licensing
Overview
France was one of the first EU jurisdictions to link insurance to crypto service provider regulation. Under the original PACTE Act (2019), DASPs could satisfy certain capital requirements through either own funds or professional indemnity insurance -- pioneering the "insurance-or-capital" approach that MiCA later adopted at the EU level through Article 67. With the transition to MiCA CASP authorisation (transitional period ending 1 July 2026; DASPs may operate without MiCA authorization only until 30 June 2026), the MiCA Article 67 PII-as-capital-alternative now supersedes the PACTE approach.
Regulatory Authority
| Body | Role |
|---|---|
| ACPR | Prudential supervision of insurers and reinsurers; licenses insurance companies under the Insurance Code |
| AMF | Supervises CASPs (formerly DASPs); administers the insurance-or-capital alternative |
| Fonds de Garantie des Depots et de Resolution (FGDR) | Deposit guarantee scheme; covers bank deposits up to EUR 100,000; excludes crypto assets |
Insurance Requirements for Crypto Businesses
| Dimension | Detail |
|---|---|
| PACTE insurance-or-capital (transitional) | DASPs could satisfy capital adequacy through qualifying PII instead of own funds; this approach pioneered before MiCA |
| MiCA Article 67 (from CASP authorisation) | CASPs may use PII to offset EUR 50,000-150,000 own funds requirements; insurance must cover negligence, breach of duty, misrepresentation |
| Mandatory insurance | No -- insurance is an option for capital reduction, not a standalone mandate |
| Deposit guarantee | FGDR covers bank deposits up to EUR 100,000; excludes crypto-asset holdings |
| Voluntary insurance | French institutional CASPs (SG Forge, Coinhouse) maintain commercial coverage; AXA XL provides specialty digital asset insurance |
Named Insurance Providers
| Provider | Type | Activity |
|---|---|---|
| AXA XL | ACPR-licensed insurer | Specialty digital asset E&O and crime coverage; one of the leading European sources of crypto insurance capacity |
| SCOR | ACPR-licensed reinsurer | Reinsurance capacity for digital asset primary policies |
| Lloyd's Brussels | EU-passported | Specialty digital asset policies accessible in France via Freedom of Services |
| Marsh, Aon (French offices) | Licensed intermediaries | Place digital asset insurance for French CASPs |
Regulatory Direction
- France's pioneering insurance-or-capital approach under PACTE has been validated by MiCA Article 67's adoption of the same principle at EU level
- The AMF's rigorous CASP review process includes assessment of insurance arrangements as part of prudential adequacy
- No expansion of FGDR deposit guarantee to cover crypto assets is under consideration
Cross-Reference
See France Digital Asset Insurance for full details on the PACTE insurance-or-capital precedent, MiCA Article 67 transition, ACPR insurer supervision, and the French digital asset insurance market.
NFT & Digital Collectibles
| Dimension | Detail |
|---|---|
| Applicable licence(s) | CASP Authorization under MiCA; JONUM Declaration (NFT gaming) |
| Regulatory authority | Autorite des marches financiers (AMF); Autorite nationale des jeux (ANJ, for NFT gaming) |
| Capital requirements | EUR 50,000-150,000 depending on service type (MiCA Art. 67) |
| Timeline (actual) | Up to 4 months after a complete CASP application file is submitted (AMF, 5 Feb 2026 — the AMF notes initial filings are "rarely complete"); DASP-to-CASP transitional period ends 1 July 2026 (file to be lodged by 30 June 2026) |
| Key requirements | Business plan, organizational structure, compliance procedures; fit-and-proper test for directors; PII or equivalent prudential safeguards; full EU AML framework compliance with Tracfin reporting |
| NFT-specific notes | Fungible collections and fractionalized NFTs fall within MiCA scope; pure unique collectibles generally outside scope; EU/EEA passporting rights once authorized; penalties up to 2 years imprisonment and EUR 30,000 fine |
| Cross-reference | Full NFT regulation details |
Payment / Transfer Service Licensing
Overview
France regulates crypto payment services through ACPR (payment institution and e-money institution licensing) and AMF (CASP authorization). The PSAN registration framework established under the PACTE Act (2019) is transitioning to MiCA CASP authorization; the transitional period ends 1 July 2026 (DASPs may operate without MiCA authorization only until 30 June 2026, per the AMF reminder of 5 February 2026).
| Dimension | Detail |
|---|---|
| Licence name | ACPR Payment Institution; ACPR E-Money Institution; MiCA CASP authorization (replacing PSAN/DASP) |
| Enabling statute | PACTE Law (2019); MiCA Regulation (EU 2023/1114); Monetary and Financial Code (CMF); French MiCA transposition (Order 15 Oct 2024, Decree 21 Feb 2025, Law 30 Apr 2025) |
| Regulatory authority | AMF (CASP/market conduct); ACPR (prudential, payment/e-money institution) |
| Capital requirement | EUR 20,000--125,000 (ACPR Payment Institution, varies by payment service); EUR 350,000 (E-Money Institution); EUR 50,000--150,000 (MiCA CASP depending on service class) |
| Timeline (actual) | 3--6 months (PSAN registration); up to 4 months statutory (MiCA CASP) |
| Setup cost (excl. capital) | EUR 80,000 -- EUR 250,000 (legal, compliance, AML infrastructure) |
| Annual ongoing cost | EUR 120,000 -- EUR 350,000 (compliance, audit, reporting) |
| Passporting | Yes -- MiCA CASP authorization enables EU-wide passporting; PSAN registration is France-only |
| Banking access | Available -- SG Forge (Societe Generale), BNP Paribas engaged with crypto; Coinhouse operates as licensed French CASP |
| Key holders | ~100 PSANs registered with AMF; SG Forge holds MiFID II + MiCA CASP authorization; Coinhouse SAS granted full MiCA CASP authorization (7 May 2026, per the AMF white list); Circle International Financial Europe SAS appears in the AMF white list as an authorized DASP/CASP (licensed 23 April 2026), reflecting Circle's (USDC) EU presence in France |
| Status | PSAN-to-MiCA CASP transition underway; transitional period ends 1 July 2026 (DASPs may operate without MiCA authorization only until 30 June 2026); operating without authorization from 1 July 2026: up to 2 years imprisonment + EUR 30,000 fine |
Stablecoin issuance under MiCA requires EMT (e-money token) authorization from ACPR as a credit institution or e-money institution. SG Forge issues EURCV (euro stablecoin) as an EMT under MiCA.
See France Crypto Payment Regulation for full details on ACPR payment institution licensing, PSAN-to-MiCA transition, EMT stablecoin framework, and AMF enforcement.
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Verification Notes
- CORRECTION (2026-06-04): The MiCA transitional end-date framing was inconsistent and inaccurate. The intro, §1 timeline table, §3, §4 RWA intro, the Insurance overview, and the Payment overview/status row described "30 June 2026" as the deadline to obtain CASP authorization. Per the AMF's reminder notice of 5 February 2026 — and as corrected across the refreshed crypto-custody, rwa-regulation, digital-asset-insurance, nft-digital-collectibles, defi-regulation, and crypto-payment-regulation source-domain files — DASPs may continue providing services only until 30 June 2026, and from 1 July 2026 only firms holding full MiCA CASP authorization may operate; unauthorized operation thereafter carries up to 2 years' imprisonment and a EUR 30,000 fine (CMF Art. L. 54-10-4, L. 572-23). Reframed to "transitional period ends 1 July 2026" throughout, consistent with the §5 DeFi and NFT sections (which already used 1 July 2026). Source: AMF — Transitional period for DASPs ends on 1 July 2026 (5 Feb 2026).
- CORRECTION (2026-06-04): The NFT & Digital Collectibles "Timeline (actual)" cell stated "40 business days (AMF target for complete CASP applications)." This is wrong for CASP authorization — per the refreshed nft-digital-collectibles source file and the AMF's 5 Feb 2026 release, CASP authorization review may take up to four months after a complete file is submitted; the 40-business-day figure related to the former optional DASP licence, not CASP authorization. Corrected in place. (Separately, the ANJ reviews JONUM declaration files for completeness within 15 days.)
- ADDED (2026-06-04): Licensing developments 20 March – 4 June 2026: AMF public warnings (22 April 2026); AMF grants Coinhouse full MiCA CASP authorization (date corrected to 7 May 2026, see 2026-06-06 entry below); AMF Chair press-event warning on the 1 July 2026 deadline (28 May 2026). Added to §3 and the Payment key-holders row.
- Targeted gap-closure pass (2026-06-06):
- CLOSED (gap: Coinhouse CASP authorization, primary-upgrade): The Coinhouse CASP authorization is now confirmed directly in the AMF official white list (primary register), which lists COINHOUSE SAS as an authorized DASP/CASP entry licensed 07/05/2026 (amf-france.org/en/warnings/white-lists). This replaces the prior Blockonomi-only event report.
- CORRECTION (2026-06-06): Coinhouse CASP authorization date. Was: "25 May 2026" (sourced to Blockonomi). Now: 7 May 2026, per the AMF primary white list (entry "COINHOUSE SAS … Licensed 07/05/2026") and corroborated by Cryptoast ("Coinhouse obtient l'agrément MiCA auprès de l'AMF", 7 May 2026, cryptoast.fr/coinhouse-obtient-agrement-mica-amf). The Blockonomi citation and the unverified service-list enumeration were removed from the §3 table; the AMF register is now cited inline in §3 and the §Payment key-holders row. While confirming this, the AMF white list also surfaced that Circle International Financial Europe SAS appears as an authorized DASP/CASP (licensed 23 April 2026) — added to the Payment key-holders row in place of the unsourced generic "Circle (USDC) established EU presence" wording.
- STILL OPEN (gap: precise aggregate French CASP count): Not closeable per standard — the AMF white list (primary) does not publish an aggregate CASP-only total and combines DASP/CASP; no France-specific primary count was located. See refined NOT VERIFIED note below.
- Reconciled against refreshed source domains: MiCA CASP capital floors (Class 1 EUR 50,000 / Class 2 EUR 125,000 / Class 3 EUR 150,000, MiCA Art. 67 & Annex IV) match crypto-custody and defi-regulation source files. PFU 30% (2025) / 31.4% (2026), EUR 305 exemption, crypto-to-crypto non-taxability, BNC mining treatment, DAC8 from 1 January 2026, and Form 3916-bis penalties (EUR 750 / EUR 1,500) match the digital-asset-taxation source file. Tax-fraud and unauthorized-CASP criminal penalties match the source files (note: the "5 years / EUR 375,000" figure reflects the pre-MiCA PACTE/AML offence; the MiCA-era unauthorized-CASP penalty from 1 July 2026 is 2 years / EUR 30,000 — both are retained and distinguished).
- NOT VERIFIED (refined 2026-06-06): Precise aggregate count of granted French CASP authorizations as of June 2026. The AMF's official white list (the primary register, amf-france.org/en/warnings/white-lists) lists individual authorized DASP/CASP entries but combines the two categories and publishes no aggregate CASP-only total; the list is paginated (~18–19 pages) and "not updated in real time" (AMF). Secondary reporting of the ESMA interim MiCA register indicated 183 CASPs authorised across 20 EEA states as of 7 April 2026 with France third behind Germany and the Netherlands, but no France-specific primary count was located. The ~30% applied / ~40% not-intending-to-apply figures remain industry/AMF-cited estimates, not a definitive official register count. Gap remains OPEN.
6. For Full Details
- Crypto Payment Regulation: France — Crypto Payment Regulation -- ACPR payment institution, PSAN-to-MiCA CASP transition, EMT stablecoin framework, AMF enforcement
- Digital Asset Taxation: France — Digital Asset Taxation
- DeFi Regulation: France — DeFi Regulation -- AMF PSAN to MiCA CASP transition, AMF DeFi discussion paper, smart contract certification initiative, crypto-asset pledge regime, PFU flat tax, Bybit/Binance enforcement
- RWA Regulation: France — RWA Regulation -- PACTE Act, MiCA CASP transition, SG Forge tokenized bonds, Caisse des Depots digitally native bond, AMF/ACPR licensing
- Digital Asset Insurance: France Digital Asset Insurance -- PACTE insurance-or-capital precedent, MiCA Article 67, AXA XL, ACPR supervision
- NFT & Digital Collectibles: France — NFT & Digital Collectibles -- MiCA CASP authorization, JONUM gaming declaration, AMF supervision, fractionalized NFT scope