Useful Articles / France
Crypto exchanges in France: from PSAN registration to MiCA, and what it means for you
France did not wait for MiCA. The PSAN regime — registration with the AMF for digital asset service providers — was operating years before the European framework arrived, which means French traders have been dealing with a licensed market for longer than most of their neighbours.
What happened to PSAN
MiCA supersedes the national regimes. A firm that held PSAN registration had to convert to full MiCA authorisation before the transitional period ended on 1 July 2026, and not all of them did. Registration under the old regime is no longer sufficient on its own, and a platform still describing itself only as "enregistré PSAN" is telling you something about where it stands.
The AMF maintains the French list, but the authoritative source is now the ESMA register of authorised CASPs — a venue licensed in Austria or Malta and passported into France appears there rather than on a French-only list.
Who can legally take you
| Venue | Licensed via | What you get |
|---|---|---|
| Bybit EU | Bybit EU GmbH, Austria | Spot and spot margin. No perpetuals or options |
| OKX | OKX Europe Limited, Malta | Spot, margin and derivatives — it holds MiFID II permissions alongside MiCA |
| Kraken | MiCA authorised for the EEA | Spot, margin and derivatives |
Binance, which had been prominent in France, withdrew its MiCA application in June 2026 and ended EU retail service on 1 July.
Funding
SEPA transfers in euros, with no currency conversion in the path — one of the quiet advantages of trading from a eurozone country. French banks are generally less obstructive about transfers to licensed crypto venues than some of their German counterparts, though policies vary by institution and by amount.
Card funding works everywhere and costs noticeably more. If you fund monthly rather than occasionally, the difference is worth the extra day SEPA takes.
Tax, in outline
France applies a flat-rate charge to occasional disposals of digital assets — the prélèvement forfaitaire unique, covering both income tax and social contributions in a single rate. Crucially, it applies when you convert to fiat or spend, not when you swap one crypto asset for another, which makes the timing of exits the thing that matters.
Traders classified as professional rather than occasional are treated differently and less favourably. Where the line sits depends on volume, frequency and method. If you trade actively, that classification question is worth an hour with an expert-comptable before it becomes an audit question.
What French traders lost
USDT is not listable on a compliant EU venue, so euro pairs replace it — which for French traders is less disruptive than elsewhere, since euro pairs were already the natural quote. And perpetuals need MiFID II permissions on top of MiCA, which narrows the field considerably.
Opening an account
Bybit EU for spot and margin, OKX Europe if derivatives matter. Referral links, no extra cost, and the reason this page exists.