Country overview

#31

France

Country stats

Rating Points

265

This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.

Crypto Penetration

5.9%

Estimated percentage of crypto users out of the country's total population based on public data.

Legal Entities

Number of crypto companies registered in the country based on regulator data if available or other types of public data.

Regulation Points

180

An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.

Amount of crypto users

3 994 300

Total amount of crypto users out of the country's total population based on public data.

Taxation points

This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.

Market volume points

188.4

A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.

Status of crypto

Legally allowed

General status of cryptocurrency regulation in this jurisdiction.

Crypto payments

Legally allowed

The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.

Security Level

Minor danger

The overall level of security in a given country based on open data.

Crypto Salaries

Legally allowed

The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.

Business Climate

Good

Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.

Stablecoin Regulation

Basic

This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.

Bad Factors

This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.

Types of licenses

Crypto-to-crypto

This license type allows VASP to provide legal exchange from one cryptocurrency to another.

Crypto-to-fiat

This type of license regulates the exchange from cryptocurrency to fiat.

Wallet/Custody

This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.

Cryptofund

This indicator means that investment funds, trusts, and crypto funds can get regulator approval to provide their activity in the country.

ICO/STO

This indicator describes legal procedures for token sales and security token issuance. This country has a clear regulation framework and licensing procedures for entities that provide this activity.

Good

Medium

Bad

intro

France is one of the most crypto-friendly among the major economies of the EU, with 3,4+ million residents investing (1) in crypto. The country has a soft and clear licensing framework. Binance has registered (2) its entity in France in May 2022. Another extensive exchange Crypto.com, got the regulator's approval (3) in September 2022. However, for 2024 there is a factor of tightening regulations for some companies here. In 2024 Bybit, a large crypto exchange, was forced to cease its operations in France.

Security level

France has a minor danger security level according to our rating. The jurisdiction has 45.4 points (from 100) for safety level in Numbeo crime rating (4). The homicide level (5) is 1,1 per 100,000 inhabitants a year. Story of firearm-related death (6) 2.33 per 100,000 inhabitants a year.

Crypto Payments

Although the euro is the only official currency in France, crypto payments are legal in France, according to the government website (7): “While creditors are required to accept payments in euros, they can also accept foreign currencies or virtual currencies. Merchants are therefore free to accept or refuse cryptocurrencies.” Also, there is an official reminder about the possible taxation of gains from crypto payments.

Moreover, the commercial court of Nanterre recognized (8) Bitcoin as a legal payment method in 2020. You may check more details about the court case here (9).

Crypto Salaries

According to the local expert (10), it’s possible to pay a salary in crypto in France since The Labor Code (11) and The Monetary and Financial Code (12) allow it. Thus, it can be assumed that the current laws do not prohibit crypto salaries, but only in case they are paid into accounts of a licensed payment service.

Legal

Based on Law Review (13), the French government’s first step to regulate cryptocurrency came in 2014 when the Prudential Supervision and Resolution Authority required exchanges to obtain a license to provide payment services. This was followed in 2017 and 2018 by introducing a regulatory framework for ICOs and the passage of Ordinance No. 2017-1674, which defined certain crypto-assets as securities. Article D. 54-10 of Monetary and Financial Code (14) is the federal law, which defines crypto and crypto entities - DASPs. It was updated last time in October 2024. Existing crypto regulation acts in the country also include: Article 721-2 of the AMF General Regulation and AMF Instruction DOC-2019-23 (15). According to AMF guide (16), an actor may be considered a Digital Asset Service Provider (DASP) if it provides at least one of the following digital asset services, mentioned in Article L. 54-10-2 of the Monetary and Financial Code.

In 2023, only 59 companies in France had the status of DASPs. As of the end of 2024, 106 crypto entities were registered in the AMF DASP list (17). Also, France is giving already operating DASPs time until July 2026. Before this time they should get MiCA authorization.

Taxation

Tax name	Index
PIT tax Min	0
PIT tax Max	45
Corporate tax (CIT)	30
Min Individual CGT (for crypto)	0
Max Individual CGT (for crypto)	30
Wealth tax Min	0
Wealth tax Max	1.

Crypto-to-crypto transactions and DeFi transactions (staking, lending, liquidity pools) are probably still taxable once converted into fiat. This happens due to the uncertainty of DeFi and NFT in the current tax framework and may change soon. According to Simmons-Simmons (19), legal uncertainty with NFTs may also be interpreted as implementing CGT (30%) or artwork taxation (6,5%).

According to Koinly (20), the General Directorate of Public Finances (21) or DGFiP defines the legal status of crypto in France “as a moveable asset". Koinly also determines the most proper crypto taxation cases are:

-If crypto is acquired through mining, or any other form of labour

-If you convert your crypto into fiat currency

Previously, there were different tax rates for professional and occasional traders—up to 45% PIT for the first group and 30% CGT for the second. However, from 2023, in most cases of conversion crypto into fiat, it will be implied CGT.

PIT

Professional traders can sometimes still pay PIT up to 45% (formerly BIC tax). At least experienced miners need to do it. Micro miners with gains up to €77,700 for 2023 are exempted. This information is based on the Koinly France Guide (22) and confirmed by PWC (23).

CGT

Most individual investors and corporates pay CGT with 30% of their crypto gain after conversion into fiat. The fixed rate of 30% includes (24) “both the tax element (12.8%) and social charges (17.2%)”. According to Koinly (25), high earners may also need to pay an exceptional Income Tax rate at a maximum marginal rate of 4%. In 2024, France tightened its tax rules for high earners. Since 2025 capital gains (including crypto!) sold by an ex-French tax resident who has moved to another country will be taxable as a moveable asset with 30% CGT, if they are sold during 5 years after moving out of France. This measure applies to income above €800,000.Moreover, France has approved withholding tax, and individuals with assets of more than €1 bln will pay 2% withholding tax.

CIT

Usually, corporates pay (26) CGT for their crypto profits - 30%. However, staking income (27) will be subject to CIT.

Links

1)France Crypto Tax Guide 2023.

2)Binance is a Fully Regulated Digital Asset Service Provider in France. Article

3)Crypto.com Receives Regulatory Approval in France. Article

4)Crime Index by Country 2023 Mid-Year

5)List of countries by intentional homicide rate

6)List of countries by firearm-related death rate

7)Peut-on payer un commerçant en cryptomonnaie? The Economy Finances Documentation Center is a service open to all.

8)La justice française assimile le bitcoin à de la monnaie. French justice equates bitcoin to currency.

9) France officially recognizes Bitcoin as a legal tender. Article

10) Press Stories - Accepting Your Salary in Cryptocurrencies in France

11)Version en vigueur depuis le 27 décembre 2022. Version in force since December 27, 2022.

12)Code monétaire et financier. Monetary and Financial Code.

13)Law Review - The Virtual Currency Regulation Review: France. Article

14)Monetary and Financial Code of France

15)AMF - Decree No.2019-1213 of 21st November 2019 relating to Digital Assets Service Providers

16)AMF. Obtaining a DASP registration/optional licensing
17)AMF - List of DASPs

19 and 27)How does France tax cryptocurrency and NFTs? Article

20)France Crypto Tax Guide 2023. Article

21) Crypto-monnaies, crypto-actifs... Comment s'y retrouver? Article

23 and 26)France. Overview

24)Capital gains tax in France – what you need to know. Article
25) France Crypto Tax Guide 2023. Article

Last update: November 2024

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intro

Security level

Crypto Payments

Moreover, the commercial court of Nanterre recognized (8) Bitcoin as a legal payment method in 2020. You may check more details about the court case here (9).

Crypto Salaries

Legal

Taxation

Tax name	Index
PIT tax Min	0
PIT tax Max	45
Corporate tax (CIT)	30
Min Individual CGT (for crypto)	0
Max Individual CGT (for crypto)	30
Wealth tax Min	0
Wealth tax Max	1.