Jurisdiction reference
France
Regulator: AMF / ACPR. License/registration context: Registration. 129 VASP/entity records are tracked by Plexo Institute in France. Official registry source: AMF DASP Register. Data last updated: 2026-08-28.
France has transitioned from its national PACTE framework to the EU's comprehensive Markets in Crypto-Assets (MiCA) regulation. Stablecoin provisions entered into force on June 30, 2024, making France's regime live. The framework distinguishes between two main types of stablecoins: e-money tokens (fiat-backed, issued by credit or e-money institutions) and asset-referenced tokens (backed by baskets of assets). Both require authorization from the ACPR, maintain strict reserve requirements, and are prohibited from offering interest to holders. France implemented a transitional period through July 1, 2026, allowing existing digital asset service providers to continue operations while obtaining MiCA compliance. France has authorized Circle as an e-money institution issuer (USDC and EURC), with Schuman Financial and Société Générale Forge also authorized as EMT issuers. The Banque de France oversees stablecoins used as means of payment, while the ACPR supervises stablecoin issuers and the AMF supervises crypto-asset service providers.
Regulatory Status
- Jurisdiction code
- FR
- Regime
- Registration
- Regulator
- AMF / ACPR
- Governing law
- PACTE Law 2019 / MiCA
- Travel Rule
- Enforced
- Tracked entities
- 129
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- EUR
Regulatory approach
The ACPR is France's prudential regulator responsible for licensing and supervising stablecoin issuers under MiCA. It acts as the competent authority for e-money tokens and asset-referenced tokens, reviewing applications and ensuring compliance with reserve requirements, governance, and risk management standards. The Autorité des Marchés Financiers (AMF) supervises crypto-asset service providers (CASPs) and handles the broader crypto-asset regulatory framework. The Banque de France maintains oversight of stablecoins used as means of payment to protect monetary stability and financial system integrity.
Relationship Graph
Jurisdiction FAQ
Who regulates France?
The current Plexo Institute record lists AMF / ACPR as the regulator for France.
How many VASPs are tracked in France?
129 VASP/entity records are tracked by Plexo Institute in France.
What is the Travel Rule status in France?
The current Plexo Institute record lists the Travel Rule status for France as Enforced.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.