What was the PSAN regime?

France's national framework from the 2019 PACTE law: mandatory AMF registration for crypto custody and exchange providers, with an optional stricter authorisation. MiCA's CASP regime now supersedes it EU-wide.

How do I check whether a platform may serve France?

Search the AMF register or ESMA's register of authorised CASPs, and confirm which services the authorisation covers.

Can French customers use a platform licensed elsewhere in the EU?

Yes — a CASP authorised in any member state can passport into France. Verify the home-state authorisation in the ESMA register.

MiCA in practice · June 2026

MiCA in France: rules, supervision and CASP licenses

In France, crypto-asset services are regulated under MiCA with the AMF (Autorité des marchés financiers) as the competent authority. France ran Europe's best-known national regime before MiCA — the PSAN framework from the 2019 PACTE law — and that experience shaped the EU rules. Providers now need CASP authorisation, verifiable via the AMF and ESMA registers.

Supervisory authority

AMF (Autorité des marchés financiers)

MiCA has applied to crypto-asset service providers since 30 December 2024; national transitional arrangements vary and end no later than 1 July 2026.

amf-france.org

Who regulates crypto in France

The AMF authorises and supervises crypto-asset service providers in France under MiCA, with EU rules applying since 30 December 2024 and transitional arrangements for existing French registrants running to mid-2026 at the latest.

France arrived at MiCA early: the PACTE law created the PSAN regime in 2019, under which hundreds of crypto firms registered with the AMF — and a stricter optional 'agrément' existed for firms wanting full authorisation. Much of MiCA's design will look familiar to anyone who knew PSAN.

From PSAN to CASP

PSAN registration was mandatory for custody and exchange services aimed at French customers; the full agrément remained rare. MiCA harmonises this at EU level: one CASP authorisation, ten defined services, passportable across all member states — replacing the national patchwork France's regime was part of.

For users the upgrade is uniformity: the same custody-segregation, capital and disclosure rules now apply whether your provider is French, Danish or Dutch.

How to verify a provider in France

Check the AMF's register of authorised providers (amf-france.org) or ESMA's EU-wide CASP register. The entry shows the services covered and the entity that holds the authorisation.

EU-passported platforms may legally serve French customers on their home-state licence; the ESMA register is the single place to verify any of them.

Frequently asked questions

FAQ

Yes — legal and regulated. Providers need CASP authorisation under MiCA, supervised by the AMF, and crypto gains are generally taxable in France.

This page is educational and not legal advice. Always verify a provider’s authorisation in the national supervisor’s or ESMA’s official register.

Trade on a MiCA-licensed platform

Penning is Denmark’s first CASP-licensed crypto platform — fully MiCA-compliant across the EU.

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