France Crypto License (DASP / AMF) — Requirements & MiCA 2026

Bitcoin gold coin single glowing — France Crypto License: AMF DASP & MiCA CASP 2026

Overview

France's PACTE Law & MiCA CASP Framework

France's PACTE Law (2019) created the DASP (Prestataires de Services sur Actifs Numériques) regime under AMF supervision. Two tracks: optional registration (AML-only, simpler) and full authorization (higher standards, enables broader activities). Under MiCA (full effect December 2024), France transitions all new entrants to CASP authorization — AMF is the competent authority.

France is one of Europe's largest fintech hubs (Station F, Paris) and has a proactive crypto regulatory environment. The AMF has been among the most engaged EU regulators in shaping MiCA policy. A French CASP license provides full EU passporting into a 450-million-person market from one of Europe's most commercially credible regulatory environments.

MiCA transition: As of December 2024, all new French crypto license applications are processed as MiCA CASP authorizations directly. The AMF is the designated French competent authority. Existing DASP-registered firms benefit from an 18-month grandfathering period.

License Types

DASP Registration, Authorization & MiCA CASP

License Track	Scope	Status
DASP Registration (pre-MiCA)	AML/CFT registration; custody and crypto/fiat exchange	Legacy — grandfathering applies
DASP Authorization (pre-MiCA)	Full AMF authorization for all 8 DASP activities including portfolio management	Legacy — grandfathering applies
MiCA CASP Authorization	All MiCA Article 60 activities; full EU passport	Current — all new applications

Requirements

France AMF CASP License — Key Requirements

Entity

French SAS or SA required

SAS recommended for flexibility; registered at Greffe du Tribunal de Commerce

Min. Capital

€50,000–€150,000

By MiCA activity class; paid-up at application

Physical Office

Required in France

Genuine substance required; virtual offices not accepted

Key Personnel

Fit & proper assessment

Shareholders and directors; AMF background checks

MLRO & Compliance

Both required

AML/CFT per Ordonnance 2020; ACPR supervision for AML

AML/CFT Framework

AML Order (Ordonnance 2020)

KYC/CDD, transaction monitoring, Travel Rule compliance

IT Security

Cybersecurity policy required

ANSSI guidelines; business continuity plan

Business Plan

AMF-reviewed business plan

Financial projections and revenue model

Process

How to Get a France AMF Crypto License — Step by Step

Incorporate French Entity and Inject Capital

Incorporate a French SAS (Société par Actions Simplifiée) at the Greffe du Tribunal de Commerce. Inject the required minimum capital. Establish a physical office in France and appoint qualified management.

2–3 weeks

Prepare AMF MiCA CASP Application Package

Develop the complete application package: business plan with financial projections, AML/CFT framework per Ordonnance 2020, IT security policy per ANSSI guidelines, governance documentation, and fit & proper documentation for directors and significant shareholders.

4–8 weeks

Submit to AMF — Complete Application Acknowledgement

File the complete CASP application with the AMF. The AMF confirms receipt and completeness of the application before the formal review clock starts. Incomplete applications are returned.

Week 8–10

AMF Review and Exchanges

The AMF reviews the application, conducts background checks, and may request additional information or clarifications. Respond promptly. AMF review of well-prepared applications typically takes 2–6 months.

2–6 months

CASP Authorization Issued; Register with ACPR

The AMF issues the CASP authorization. Register with the ACPR (Banque de France) for AML supervision. Commence operations with ongoing AMF and ACPR reporting obligations. EU passporting notifications filed immediately.

Authorization issued

Costs

France AMF Crypto License — Full Cost Breakdown

Item	Details	Approx. Cost
AMF application fee	Non-refundable application fee	€3,000–€10,000
ACPR supervisory levy	Annual AML supervisory fee (Banque de France)	Varies by size
Company formation	French SAS incorporation, notary, registration	€2,000–€4,000
Office lease (Year 1)	Physical office in Paris or other French city	€12,000–€30,000/yr
Legal & compliance	Application preparation, AML/CFT policies	€20,000–€50,000
Estimated Year 1 Total (excl. capital)	Setup, regulatory fees, office, professional fees	€50,000–€120,000

FAQ

France AMF Crypto License — Common Questions

DASP (Prestataire de Services sur Actifs Numériques) is France's crypto service provider regime under the PACTE Law 2019, supervised by the AMF. Under MiCA, new applicants now apply for CASP authorization directly, with the AMF remaining the competent authority.

Yes. A French AMF CASP authorization under MiCA allows full EU passporting — operating crypto services in all 27 EU member states without additional national licenses.

3–9 months depending on the complexity of activities and completeness of the application. Simple registration (pre-MiCA) could be faster; full MiCA CASP authorization typically takes 4–8 months with AMF review.

Yes. France offers EU passporting, a large domestic market, a tech-savvy regulatory authority (AMF), and a growing crypto ecosystem in Paris. The main drawbacks are 25% corporate tax and relatively high operational costs compared to Cyprus or Malta.

Registration (pre-MiCA) required only AML compliance and covered basic custody and exchange. Authorization required full AMF review of governance, capital, and systems for all 8 DASP activities. Under MiCA, both tracks are unified into CASP authorization.

The AMF application fee is approximately 1,500 EUR, with additional legal and compliance setup costs typically ranging from 15,000 to 50,000 EUR depending on your business model. Ongoing annual compliance and supervisory fees average 5,000 to 15,000 EUR. These figures exclude banking relationship costs, which can add significant expenses depending on your service offerings.

French DASPs face significant banking friction, as most traditional banks remain hesitant to serve crypto businesses due to reputational and regulatory concerns. You will likely need to work with specialist crypto-friendly banks or payment processors, which typically charge higher fees (0.5-2% per transaction) and impose strict compliance requirements. Banking relationships can take 2-6 months to establish after receiving your AMF authorization.

The AMF requires detailed documentation including your business plan, organizational structure, risk management policies, AML/KYC procedures, IT security measures, financial projections, and governance documents. You must also provide proof of professional indemnity insurance (minimum coverage varies by service type), evidence of competent management, and detailed descriptions of your technical infrastructure. Documentation typically comprises 100+ pages and requires 4-8 weeks to prepare comprehensively.

France's AMF authorization typically takes 2-3 months and costs 15,000-50,000 EUR in setup, while Luxembourg's CSSF process averages 4-6 months with similar initial costs but higher ongoing fees. France offers stronger EU passporting rights under MiCA from 2025 onwards, making it increasingly competitive for pan-European operations. Luxembourg traditionally appeals to larger institutions, whereas France targets smaller to mid-sized fintechs seeking faster market entry.

DASPs are subject to standard French corporate income tax (19.3% for 2026, with potential local taxes adding 3-9% depending on location) on profits generated from crypto services. Transaction revenues, service fees, and staking rewards are all taxable. Additionally, DASPs must comply with VAT regulations on certain services and maintain detailed transaction records for tax authorities, with audits becoming increasingly common as the AMF expands its compliance monitoring.

Yes, the AMF can revoke licenses for serious breaches of AML/KYC regulations, inadequate financial reserves, operational failures, or market conduct violations, with revocation timelines ranging from 1 month for critical issues to 6 months for standard violations. Between 2023-2025, the AMF has revoked or refused multiple DASP applications due to insufficient AML procedures and governance gaps. Maintaining quarterly compliance reviews and strong audit trails significantly reduces enforcement risk.

Licensed DASPs must submit annual financial reports to the AMF, undergo regular compliance audits, maintain real-time transaction monitoring systems, and update risk assessments quarterly. You are also required to maintain minimum capital reserves (amounts vary by service type, typically 50,000-250,000 EUR), renew insurance policies annually, and report any material operational changes within 10 business days. The AMF conducts on-site inspections every 18-24 months, requiring dedicated compliance personnel.

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◆ KEY METRICS

France DASP Authorization Requirements

€50,000

Minimum Capital (Full Authorization)

90 days

Processing Timeline (Standard)

€1,500–€5,000

Application & Registration Fee

19%

Corporate Income Tax Rate (France)

AMF

Regulator (Autorité des Marchés Financiers)

EU Passporting

Access to 27 EEA Markets Post-MiCA

◆ PROCESS TIMELINE

Five-Step Authorization Journey

Week 1–2

Pre-Application Audit

Engage compliance consultant; prepare governance framework, AML/KYC policies, and technical security documentation.

Week 3–5

Formal Application Submission

Submit DASP/AMF application form with business plan, ownership structure, proof of capital, and compliance documentation to AMF.

Week 6–12

Completeness Review & Q&A

AMF reviews dossier; requests clarifications on governance, risk management, and technical infrastructure.

Month 3–4

Substantive Assessment

AMF conducts deep review of compliance systems, financial controls, and operational readiness; may request on-site audit.

Month 4–5

Approval & Registration

AMF grants authorization; entity registered in DASP registry and receives formal certificate for EU-wide operations under MiCA.

France Crypto License: AMF DASP & MiCA CASP 2026