France — crypto regulation

Status: legal · Last reviewed 2026-11-05

MiCA member state, with the AMF as national competent authority. The PACTE Act (2019) DASP/PSAN regime ended on 1 July 2026 with the close of the MiCA transitional period. Registered providers without MiCA authorisation must follow orderly wind-down plans, which the AMF scrutinises with ESMA. By July 2026 the AMF had authorised 31 CASPs, making France the second most popular EU location for authorised CASPs. Ordinance 2024-936 and Decree 2025-169 transposed MiCA. In October 2026 the French authorities jointly proposed tighter MiCA rules: stronger ESMA oversight of significant CASPs, a framework for third-country multi-issuance stablecoins, and a DeFi regime. SG-Forge's EURCV is Europe's leading bank-issued euro stablecoin.

Legislation

• Finance Law for 2025 (Law 2025-127), Art. 54 — DAC8 transposition (2025)
• Finance Bill 2027 (PLF 2027) — crypto tax amendments (2026)
• PACTE Act — Title V (Digital Asset Service Providers) (2019)
• Ordinance 2024-936 — Crypto-Asset Markets (MiCA Transposition) (2024)
• Decree 2025-169 — Crypto-Asset Markets Implementation (2025)
• Law of 30 April 2025 — Final MiCA Adaptation (2025)