Crypto in France

France established Europe's first comprehensive crypto regulatory framework through the PACTE Law (Action Plan for Business Growth and Transformation) enacted May 22, 2019. This law created mandatory registration for digital asset service providers (DASPs) with the Autorité des Marchés Financiers (AMF) and prudential supervision by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). The AMF's registration regime, operational since 2020, requires providers to comply with anti-money laundering (AML) standards, consumer protection rules, and cybersecurity requirements. As of December 2024, 103 DASPs hold AMF registration, including Binance France, Société Générale's Forge, and Ledger Enterprise Solutions. France fully implemented the EU's Markets in Crypto-Assets Regulation (MiCA) on December 30, 2024, creating a unified licensing system that supersedes national registration. The Banque de France has conducted 10 wholesale central bank digital currency (CBDC) experiments since 2020, testing settlement of tokenized financial assets.

France imposes a flat 30% tax on capital gains from crypto asset disposals, established under Article 150 VH bis of the French Tax Code. This rate applies regardless of holding period, eliminating previous distinctions between occasional and professional trading. Taxpayers must declare crypto holdings exceeding €5,000 in value on annual income tax returns using Form 2086. The 30% rate comprises 12.8% income tax plus 17.2% social contributions. Mining income and staking rewards face the same 30% flat tax upon realization. France introduced a mandatory transaction reporting requirement in 2024: all crypto transfers exceeding €1,000 must be reported to tax authorities. The Direction Générale des Finances Publiques (DGFiP) launched a specialized crypto audit unit in 2023 that conducted 2,500 investigations in 2024, resulting in €47 million in additional tax assessments.

France recorded 3.4 million crypto users in 2024, representing 7.2% of the adult population according to AMF surveys. Institutional adoption accelerated with €4.2 billion in crypto assets under management by French investment funds as of Q3 2024. Société Générale's digital asset subsidiary, SG Forge, became the first entity licensed under both French DASP and MiCA regimes in January 2025, issuing €40 million in tokenized bonds on the Ethereum blockchain. The Paris Europlace initiative attracted 38 crypto firms to establish European headquarters in France during 2023-2024, including Circle, Crypto.com, and Gemini. Retail adoption metrics show 17% of French adults aged 18-35 hold crypto assets, with Bitcoin and Ethereum representing 68% of holdings. The Banque de France's 2024 survey revealed 12% of French businesses accept crypto payments, led by luxury goods and technology sectors.