France crypto license 2026 — AMF CASP authorisation
France was an EU early mover — it built the PSAN regime in 2019 under the PACTE law, before MiCA existed. MiCA has now replaced it, and the AMF set a hard line: a French CASP authorisation by 1 July 2026, or stop. Existing PSANs get a fast-track, but missing the deadline is a criminal matter.
France was early — and now has to converge
France did not wait for MiCA. The 2019 PACTE law created the PSAN regime — Prestataire de Services sur Actifs Numeriques — one of the first dedicated national crypto frameworks in the EU. For years, a French PSAN registration was a recognisable mark in the European crypto market.
MiCA changed the picture. As an EU regulation it superseded the PSAN regime as a standalone national framework, and France now runs the standard MiCA CASP regime supervised by the Autorite des marches financiers (AMF). Existing PSANs have to converge onto it — and the starting tier they hold drives how much ground they have to cover.
The deadline, the fast-track, and what it still requires
France used the full 18-month transitional window under MiCA. The transitional period that lets existing French DASPs keep providing crypto-asset services without a MiCA authorisation ends on 1 July 2026, and the AMF has been explicit: after that date, operating without a granted CASP authorisation is a criminal matter, not merely a civil or administrative one. The practical reading is that the deadline is for being authorised, not for having filed.
The AMF has not made existing PSANs start from zero. Its transition policy treats much of the content already filed under the PACTE regime as MiCA-compliant, subject to adjustment — a genuine fast-track. Enhanced DASP holders move faster (practitioner-reported ~3-5 months) than basic registrants (~4-6 months), because a basic registrant has more to build: MiCA-standard governance, prudential capital evidence, ICT-resilience documentation, and complaints handling. The fast-track reuses prior content; it does not waive the substance.
Choosing France as a CASP home
France is a large, credible CASP jurisdiction with an established regulator and an early-mover crypto history. For a firm already holding a French PSAN registration, transitioning in France via the fast-track is usually the obvious path — the firm already has French substance, counsel relationships, and prior AMF engagement. For a firm with no existing French footprint, choosing France as a fresh CASP home is a different calculation, weighed against the other EU jurisdictions.
The diagnostic for counsel: ask whether they can map, for the specific firm, exactly which existing PSAN filings the AMF will accept as MiCA-compliant and which need rebuilding — and whether the realistic timeline clears 1 July 2026 with margin. Counsel that treats the fast-track as automatic has misread it. The firms in our index with relevant French and multi-jurisdiction experience are listed below.
France AMF CASP authorisation is the licence the Autorite des marches financiers grants under MiCA Regulation (EU) 2023/1114 to provide crypto-asset services in France and across the EU, replacing the prior French PSAN regime created by the 2019 PACTE law, with a transitional window for existing PSANs that ends on 1 July 2026.
Fast facts
| Parameter | Value |
|---|---|
| Regulator | Autorite des marches financiers (AMF) |
| Prior regime | PSAN — Prestataire de Services sur Actifs Numeriques, created by the 2019 PACTE law; basic registration plus an optional enhanced (agrement) tier |
| Transitional deadline | 1 July 2026 — France used the full 18-month transitional window under MiCA |
| After the deadline | Only MiCA-authorised CASPs may provide crypto-asset services in France; operating without authorisation carries criminal liability |
| Fast-track (enhanced DASP holder) | Practitioner-reported ~3-5 months end-to-end |
| Fast-track (basic PSAN registrant) | Practitioner-reported ~4-6 months end-to-end |
| Capital tiers | €50,000 (Class 1) / €125,000 (Class 2) / €150,000 (Class 3), MiCA Annex IV |
Top counsel for France CASP work
Firms below are ranked according to the published CLPAI methodology. Featured selections cover firms with documented France engagement, regardless of where they are headquartered.
Frequently asked questions about France CASP authorisation
What was the French PSAN regime?
PSAN — Prestataire de Services sur Actifs Numeriques — was France's domestic crypto regime under the 2019 PACTE law. It had a mandatory basic registration and an optional enhanced tier, supervised by the AMF.
When must a French PSAN move to a MiCA CASP authorisation?
By 1 July 2026. France used the full 18-month transitional window under MiCA's transitional regime. After that date only MiCA-authorised CASPs may provide crypto-asset services in France.
Is there a fast-track for existing French PSANs?
Yes. The AMF treats much of the content already filed under the PACTE regime as MiCA-compliant subject to adjustment — enhanced DASP holders move faster than basic registrants.
What happens if a firm operates in France after 1 July 2026 without a CASP authorisation?
Providing crypto-asset services in France without a MiCA CASP authorisation after the deadline carries criminal liability — not merely a civil or administrative consequence.
Pitfalls and nuances in France
1 Assuming a PSAN registration carries over automatically
It does not. A PSAN registration — basic or enhanced — does not convert into a MiCA CASP authorisation on its own. The firm must file a CASP application with the AMF. The fast-track reuses prior content; it does not remove the application.
2 Treating the 1 July 2026 deadline as soft
It is a hard cliff-edge. A firm without a granted CASP authorisation on 1 July 2026 must cease crypto-asset activity in France. Continuing to operate exposes the firm to criminal liability, not just supervisory action. File early enough to be granted, not just submitted, before the date.
3 Underestimating the gap between basic PSAN and MiCA
Basic PSAN registration was a lighter regime than the enhanced tier. A basic registrant has more ground to cover to reach MiCA standard — governance, prudential capital, ICT resilience, complaints handling — than an enhanced DASP holder, and the practitioner-reported fast-track timeline reflects that.
4 Filing close to the deadline
Even a fast-track application takes months end-to-end. A basic PSAN registrant filing in spring 2026 risks the authorisation not being granted before 1 July. The deadline is for being authorised, not for having filed.
Practitioners in France
Named lawyers from the Crypto Law Index practitioners directory whose jurisdictional coverage includes France. Editorial picks, sourced from public records.
Regulator and primary sources
The supervisor of CASP authorisations in France is Autorite des marches financiers (AMF). The legal basis is MiCA Regulation (EU) 2023/1114 + French PACTE law PSAN regime (transitional). Visit www.amf-france.org/en/news-publications/news/mica-regulation-amf-now-accepting-applications-authorisation-casp for the regulator's official guidance, application forms, and supervisory expectations.