France Crypto License 2025 | AMF PSAN Registration, MiCA
Get your PSAN registration with AMF in France. MiCA transition, AML compliance with TRACFIN, specialized legal support for crypto assets.
In summary: Digital asset service providers (PSANs) must register with AMF in France under the PACTE law. The process takes 3-6 months with strict AML/CFT requirements supervised by TRACFIN. With MiCA coming into force, French PSANs can benefit from EU passport to operate across all 27 countries.
Crypto Regulation in France
France established a comprehensive regulatory framework for crypto assets with the PACTE law of 2019, making it one of the first EU countries to regulate the sector. The AMF (Autorité des marchés financiers) supervises PSAN registration, while TRACFIN handles AML/CFT compliance.
PSAN Registration with AMF
Registration with AMF is mandatory for the following services:
- Exchange of digital assets for fiat currency
- Exchange between digital assets
- Custody services for digital assets
- Purchase/sale of digital assets against fiat
- Trading platform operation
Registration Categories
| Type | Services Covered | Requirements |
|---|---|---|
| Simple registration | Basic crypto services | AML/CFT procedures, fit & proper managers |
| Enhanced registration | Custody, exchange services | Higher capital, insurance, cybersecurity audit |
| Optional license | All services + marketing to public | Full regulatory compliance, ongoing supervision |
MiCA Transition
- June 2024: Stablecoin rules (ARTs and EMTs)
- December 2024: Full CASP regime in force
- EU Passport: MiCA authorization allows operation across all 27 EU countries
- Transition: Existing PSANs have transitional period to obtain CASP authorization
AML/CFT Requirements
- TRACFIN reporting: Suspicious transaction reports
- KYC procedures: Customer identification and verification
- Transaction monitoring: Ongoing surveillance systems
- Travel rule: Information exchange between VASPs
- Risk assessment: Regular ML/TF risk evaluation
Why France for Crypto?
- Clear regulatory framework: PACTE law since 2019, early mover in EU
- AMF as experienced regulator: Dedicated crypto team, clear guidelines
- Favorable tax treatment: Flat tax 30% on crypto gains for individuals
- Ecosystem: Active crypto/blockchain community, Paris Blockchain Week
- EU passport: MiCA authorization enables pan-European operations
Frequently Asked Questions
Since the PACTE law of 2019, digital asset service providers (PSAN - Prestataires de Services sur Actifs Numériques) must register with AMF to operate in France. This covers crypto/fiat exchange, custody services, trading platforms, and other crypto services.
The EU MiCA regulation came into force progressively since 2024. French PSANs must obtain MiCA authorization (CASP) to continue operations and benefit from the EU passport for cross-border services in all 27 member states.
PSAN registration with AMF typically takes 3-6 months, depending on file complexity and documentation quality. AMF conducts thorough analysis of AML/KYC procedures, governance, and cybersecurity measures.
Capital requirements depend on the services offered. Basic PSAN registration requires appropriate equity for the activity. Enhanced registration (agrément renforcé) for custody and exchange services requires higher capital and insurance coverage.
Find Your Lawyer
Describe your project and we will connect you with a qualified lawyer.
- Free referral
- Response within 24 hours
- Verified lawyers