France tightens crypto rules amid lagging adoption

France lags in crypto adoption, with only 11% ownership. Authorities push for stricter rules on non-euro stablecoins and warn of dollar dominance, urging tighter MiCA regulations.

Crypto adoption in France is advancing, yet the country still trails behind several European peers. By 2026, 93% of French citizens are expected to be aware of crypto-assets, but actual ownership remains steady at around 11%. This suggests that while crypto is no longer a niche topic, most people remain cautious, with few willing to invest. The integration of crypto into France’s traditional financial system is ongoing. Banks and stablecoins are seen as key to future growth. However, French authorities are pushing for stricter regulations, particularly for non-euro stablecoins. The Bank of France has called for tighter rules under the MiCA framework, arguing that current measures only partially address the risks posed by foreign stablecoins. Lawmakers are also considering new reporting requirements for significant self-custodied crypto holdings. The dominance of dollar-pegged stablecoins—making up 99% of the market—has raised concerns about the "dollarization" of European payments and underscored the need for a strong euro-based digital currency.