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 a dual registration system for digital asset service providers (DASPs) with the Autorité des Marchés Financiers (AMF). Mandatory registration for custody and fiat-to-crypto exchange services became effective January 1, 2024, under decree 2023-1292. The Autorité de Contrôle Prudentiel et de Résolution (ACPR) supervises anti-money laundering compliance, while the Banque de France conducts wholesale central bank digital currency experiments. France fully implemented the EU's Markets in Crypto-Assets Regulation (MiCA) on December 30, 2024, requiring all crypto firms to obtain MiCA authorization by June 30, 2026. The AMF maintains a public register of approved DASPs, which included 74 registered entities as of March 2025.

France imposes a flat 30% tax on crypto capital gains, comprising 12.8% income tax plus 17.2% social contributions. The tax applies to all disposals exceeding €305 annually, with losses deductible against gains over the same year and carried forward five years. Professional traders face different treatment under commercial profit rules. Since January 1, 2023, all crypto platforms operating in France must report user transactions to French tax authorities under DAC8 regulations. The 2024 Finance Law introduced mandatory declaration of foreign crypto accounts exceeding €50,000. France does not tax crypto-to-crypto trades, only taxing gains realized upon conversion to fiat currency. Staking rewards and mining income are taxed as non-commercial profits at progressive rates up to 45% plus social contributions.

France recorded 3.4 million crypto users in 2024, representing 8.2% of the adult population according to AMF surveys. Institutional adoption accelerated with 17 French banks offering crypto services by Q4 2024, including Société Générale's Forge which launched EUR CoinVertible in April 2023. The Paris region hosts 150 crypto companies employing 4,200 people, with €1.2 billion invested in French crypto startups since 2020. Retail usage shows 42% of crypto owners hold less than €1,000, while 8% hold over €50,000. Major platforms including Binance, Crypto.com, and eToro obtained DASP registration. The Banque de France completed 12 wholesale CBDC experiments with private sector partners between 2020-2024, testing cross-border settlements and tokenized bonds.