MiCA CASP authorisation in France (AMF)

At a glance

Regulator: AMF (with ACPR for ART/EMT issuers)
Typical timeline: ~6 to 10 months; fast-track for enhanced PSAN holders
Transitional deadline: Open until 1 July 2026
Fees: Specific AMF CASP fee not published
CASPs authorised so far: ~12
Pre-MiCA experience: PSAN / DASP regime from the 2019 PACTE law

As of June 2026; figures drift and transitional dates trace to the ESMA grandfathering list. Capital is set EU-wide by service class (€50,000 / €125,000 / €150,000), not by country. Compare member states on the jurisdiction comparison and confirm exact dates on the deadlines page.

Why teams look at France

France built crypto-regulation credibility early. Its digital-asset service provider regime, the PSAN framework introduced by the 2019 PACTE law, gave the Autorité des marchés financiers (AMF) years of supervisory practice before MiCA’s crypto-asset service provider regime began applying on 30 December 2024. France also offered an enhanced PSAN registration that previewed many MiCA expectations.

The reputation is strong and the file is heavy. France is a credible home jurisdiction for firms that want a regulator whose authorisation carries weight, provided the team is ready for a demanding process.

This page is informational and does not replace legal, regulatory, or tax advice. Confirm current requirements, forms, fees, and timelines directly with the AMF before acting.

The authorisation route

A firm that is not already an EU-authorised financial entity applies to the AMF for authorisation as a CASP under Article 62, with the prudential regulator (the ACPR) consulted where relevant. A firm already authorised under EU financial law can use the lighter Article 60 notification.

Under Article 63 the AMF has 25 working days to confirm completeness and then 40 working days to decide once the file is complete. Preparing a complete file is the long part. The AMF expects a well-structured submission and substantive engagement, not a thin application.

What the AMF expects

Local substance

A registered office in France and management effectively based there under Article 59(2). France has signalled it expects senior management, not just one director on paper, to be genuinely based in the EU.

Governance and fit-and-proper

Collective crypto-asset competence and sufficient time commitment under Article 68, with detailed assessment of directors and qualifying shareholders.

Custody and client assets

Segregation, reconciliation, a custody policy, and strict liability for loss under Article 75 where you hold client crypto-assets or the means of access.

Prudential safeguards

Own funds, an insurance policy, a comparable guarantee, or a mix under Article 67, at the higher of the class minimum or one quarter of fixed overheads.

Capital and the Article 67 question

The minimum is 50,000 euro, 125,000 euro, or 150,000 euro depending on the services you are authorised for, or one quarter of the previous year’s fixed overheads if higher. If you are weighing insurance against capital, build the evidence first: see the CASP insurance evidence pack and own funds vs insurance.

Coming from a PSAN registration

Firms already registered or licensed as a PSAN do not convert automatically. They move onto the MiCA CASP regime through a transition the AMF manages, and France set its own transitional cut-off rather than using the full MiCA maximum. If you rely on a PSAN registration, confirm the current cut-off date and the exact transition steps with the AMF.

Transitional dates have moved at the member-state level. Confirm any date against current AMF guidance before planning around it.

A heavy file, by design

France’s value is the credibility of the authorisation, which comes from a thorough process. Teams that succeed treat the application as a substantive exercise: clean substance, a defensible custody and controls story, and prudential safeguards backed by evidence rather than assertion.

FAQ

Is a France CASP licence valid across the EU?

Yes. A CASP authorisation passports to all 27 member states under Article 65. You authorise in France and notify the host states before providing services there.

Do I need French-resident management?

France has signalled it expects effective management to be genuinely based in the EU, not a nameplate. Confirm the current expectation with the AMF for your structure.

How long does it really take?

The legal decision clock is 40 working days after the file is complete, plus a 25 working day completeness check. Preparing a complete file usually takes several months given the AMF’s expectations.