Is crypto legal in France?
Cryptocurrency is legal in France, but subject to regulatory restrictions.
Western Europe · FR · 9 of 9 dimensions sourced
France crypto policy at a glance
Stage of the central bank digital currency programme — research, pilot, or launched.
Whether crypto is legal, restricted, or banned for individuals and businesses.
“from 30 December 2024, only crypto-asset service providers (CASPs), authorised prior to carrying on their activity, may provide crypto-asset services”
Whether the jurisdiction licenses crypto/VASP service providers.
“From 30 December 2024, the European MiCA Regulation will require market participants wishing to offer crypto-asset services in the European Union to obtain prior authorisation.”
Rules governing stablecoin and e-money-token issuance.
“the provisions on stablecoins (Titles III and IV of the Regulation), which came into force on 30 June 2024 ... whose issuers must be authorised by the Autorite de controle prudentiel et de resolution (ACPR).”
How crypto gains are taxed and reported, including OECD CARF participation.
“Les plus-values des particuliers ... sont soumises a l impot sur le revenu au taux forfaitaire de 12,8 %”
How decentralized finance (DeFi) is treated by regulators.
“Le présent rapport présente les enjeux associés au développement de la finance décentralisée (DeFi) et esquisse des pistes de régulation de ces nouveaux protocoles fondés sur la technologie blockchain.”
Whether NFTs are addressed in regulation.
“The AMF considers that in principle non-fungible tokens (NFTs) are not financial instruments or digital assets within the meaning of the Monetary and Financial Code, but some NFTs could qualify as such depending on the rights they confer.”
Policy toward crypto mining — permitted, restricted, or banned.
“Les gains réalisés par les particuliers à l’occasion de la cession d’actifs numériques, y compris ceux acquis en contrepartie de la participation à la création ou au fonctionnement de ces actifs (par exemple par minage), sont imposables… La simple activité de minage de crypto-actifs par un particulier ne fait pas, en elle-même, obstacle à l’application du régime des particuliers.”
Intensity of regulatory enforcement actions against crypto firms.
“The AMF regularly issues warnings and blacklists concerning unregistered digital asset service providers and crypto-asset offerings.”
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