MiCA Crypto Regulation in France: Complete Guide for French Users

France has one of the most structured histories of crypto regulation in Europe. It introduced its own national framework years before the EU acted, and it was among the first member states to close the transition when EU rules took over. As of 1 July 2026, that transition is complete. This guide explains what changed, what it means for French crypto users, and what the rules do and do not cover.

From PSAN to MiCA: What Changed in France

France created its crypto regulatory framework in 2019 through the PACTE law, which established the PSAN (Prestataire de Services sur Actifs Numériques) regime. Any business offering crypto custody, exchange, or brokerage services to French clients had to register with the AMF. Strengthened registration requirements came into force on 1 July 2023 under the law of 9 March 2023, further raising the bar for compliance.

The PSAN regime was France's own creation. It applied only within France. A PSAN-registered firm could not use that status to serve clients in Germany, Spain, or any other EU country without going through each country's separate process. That changed with MiCA (Markets in Crypto-Assets Regulation). MiCA is an EU-wide framework that governs crypto-asset issuers, crypto-asset service providers (CASPs) such as exchanges, brokers, and custodians, and stablecoin issuers. It came into force on 30 December 2024, with an 18-month transition period for existing national frameworks.

France set its transition deadline at 30 June 2026. From 1 July 2026, only MiCA-authorized CASPs may legally provide crypto-asset services to French clients. The PSAN regime was fully abrogated on that date, and any firm still operating only on a PSAN registration was struck off. The practical difference is significant. MiCA CASP authorization confers EU passporting rights: a firm authorized in any one member state can notify regulators in other states and serve clients across the EU. PSAN registration never did that. This means French users can now legally access exchanges and custodians that hold a MiCA CASP license issued in Luxembourg, Ireland, Germany, or any other EU country, provided the firm has notified the AMF under the passporting procedure.

AMF's Role Under MiCA

The Autorité des marchés financiers (AMF) is France's national competent authority (NCA) under MiCA. It handles CASP licensing applications for firms seeking French authorization, supervises authorized CASPs operating in France, and receives passporting notifications from CASPs authorized elsewhere in the EU.

France's AMF has historically taken a stricter approach to crypto regulation than many of its EU peers. The PSAN regime administered required firms to meet anti-money laundering, cybersecurity, and organizational standards that went beyond the minimum requirements. When MiCA was introduced, the AMF offered a simplified procedure for PSANs that had already obtained the highest tier of registration (the "reinforced" or fully authorized status), recognizing that these firms had already cleared much of the compliance bar.

The AMF publishes a register of authorized CASPs on its website, updated as authorizations are granted or passporting notifications are processed. French users can check this register to verify whether a platform they want to use holds valid authorization to serve them.

Checking a register works best when it is specific. Match the platform's legal entity with the name in the AMF entry. Then confirm that the listed permission covers the service you plan to use. A familiar brand name alone is not enough, because a group can operate through different entities in different countries. The 1 July 2026 deadline made that distinction especially important. Review the listing again if a platform changes its terms or migrates accounts. MiCA authorization sets the regulatory route for serving French clients. It does not replace the need to read the platform terms, understand custody arrangements, and retain records for French tax reporting when necessary.

MiCA gives NCAs like the AMF supervisory powers, including the ability to suspend or withdraw authorization, impose fines, and restrict services. For French users, this means the exchanges they use are subject to ongoing oversight, not just a one-time registration check.

Licensed Exchanges Available to French Users

As of July 2026, the exchanges listed below hold MiCA CASP authorization and are available to French residents through either direct authorization or EU passporting.

Binance is not on this list. Binance suspended most crypto services for French users after failing to obtain MiCA authorization by the 30 June 2026 deadline. Its prior AMF PSAN registration (E2022-037) no longer gives it the right to operate regulated crypto-asset services in France. During the post-deadline period, Binance was permitting withdrawals only for French users while its authorization status remained unresolved.

French users who were using Binance should verify the current status of their accounts directly with the platform. Using an exchange that is not MiCA-authorized to serve French clients carries legal and financial risk. This table reflects the post-1 July 2026 position and will change as more CASPs obtain authorization or notify the AMF under the passporting procedure. The AMF's published register is the authoritative source for the current status.

Crypto Taxation in France

MiCA is a regulatory framework. It governs how crypto businesses operate. It does not change French tax law. Since 1 January 2026, crypto capital gains for French resident individuals are taxed under the PFU (Prélèvement Forfaitaire Unique) at a total rate of 31.4%, composed of 12.8% income tax and 18.6% social contributions. An annual exemption applies: disposals with total proceeds below €305 are not taxable.

The previous commonly cited figure was 30%. The current rate of 31.4% has been applied since the start of 2026. French residents also have the option to elect the progressive income tax scale instead of the PFU. Whether this is advantageous depends on the individual's overall tax situation.

Reporting obligations remain unchanged by MiCA. Capital gains must be declared on Form 2086. Foreign digital-asset accounts held with exchanges based outside France must be declared on Form 3916-bis. Both obligations derive from French domestic tax law, not from MiCA.

One pending development: the French National Assembly voted an anti-fraud amendment that would require French residents holding more than €5,000 in self-custody wallets to file an annual declaration with the tax authority (DGFIP). This creates a tax reporting obligation for individual holders, not an AMF registration requirement. The implementing rules were still to be set by decree as of the date of this article.

Self-Custody for French Crypto Users

MiCA regulates crypto-asset service providers. It does not regulate individuals holding crypto in personal wallets.

MiCA Recital 66 explicitly preserves an individual's ability to hold crypto assets in a wallet without a regulated service provider. French law, in line with MiCA, confirms that individuals' self-custody of crypto-assets is not subject to CASP licensing rules, which apply only to professional providers. Manufacturers of hardware or software wallets, and users of self-hosted wallets, are not required to register with the AMF solely for producing or using self-custody tools.

Here's what self-custody means in practice. In a self-custody setup, the user controls the private keys. Transactions are signed locally and broadcast to the blockchain without an exchange or intermediary controlling those keys. This removes dependence on an exchange's solvency. It also transfers full responsibility for key management to the user: if the credentials are lost, there is no recovery process. With a 3-card hardware wallet, you can keep backup cards separate from your everyday card.

A hardware wallet addresses this risk by generating and storing private keys offline. The private key never touches an internet-connected device. Transactions are signed internally on the hardware device and then broadcast via the paired app. That separation matters when the paired phone goes online. The signing step stays on the wallet, while the app broadcasts the completed transaction.

Tangem Wallet is one option for French users looking for a hardware wallet. It uses an NFC-enabled card form factor, requires no battery or charging, and stores private keys on a Samsung S3D350A secure element certified to Common Criteria EAL6+. The recommended setup uses no seed phrase: private keys are generated on-chip, never leave the secure element, and are not extractable. A 2-card set costs $54.90, and a 3-card set costs $69.90. The app is available on iOS 16.0 or later and Android 6.0 or later with NFC support, and there is no desktop or web interface.

Tangem's product documentation states that it is GDPR-compliant, with no account registration or KYC required for basic wallet use. Third-party on-ramp and swap services integrated into the app may impose their own KYC requirements. One concrete limitation of the seedless setup is that if every backup card is lost and no seed phrase was generated, the funds are permanently inaccessible. French users considering Tangem should set up the full 3-card backup and store cards separately.

The pending French anti-fraud amendment (mentioned in the taxation section) would require that self-custody holdings above €5,000 be declared to the DGFIP. This is a tax reporting obligation, not a prohibition on self-custody. Self-custody remains fully legal.