The AMF Digital Asset Service Provider Registration and Licensing Regime was France’s national framework for crypto-asset intermediaries before the EU Markets in Crypto-Assets Regulation became the operative authorization route. It was introduced through Article 86 of the PACTE Law, which inserted a chapter on “prestataires de services sur actifs numériques” into the Monetary and Financial Code. As of July 6, 2026, this profile should be treated as a legacy and repealed national regime: the MiCA transition ended on July 1, 2026, and French law now centers on authorization as a crypto-asset service provider under MiCA.
Regime overview
The regime used the French term PSAN, commonly translated as digital asset service provider or DASP. It was administered by the Autorité des marchés financiers, with the Autorité de contrôle prudentiel et de résolution involved in fitness, reputation, and AML/CFT review. The original PACTE Law framework defined digital asset services to include custody or access to digital assets, buying or selling digital assets against legal tender, exchanging digital assets for other digital assets, operating a trading platform, and additional order, portfolio, advice, underwriting, and placement services.
The AMF described mandatory registration as applying to custody, fiat-to-crypto buying and selling, crypto-to-crypto exchange, and operation of a digital asset trading platform. The regulator’s registration checks included the good repute and competence of managers and beneficial owners, and AML/CFT compliance checks for custody and legal-tender buying or selling services. The framework applied to DASPs established in France and, under AMF policy, to certain non-French providers offering covered services in France.
Key provisions
- Mandatory registration. Covered providers had to register with the AMF before offering specified services in France. The AMF handled the filing process and sought ACPR input where required.
- Optional licensing. A DASP established in France could seek an optional AMF license. Licensed DASPs were subject to governance, capital or insurance, IT resilience, internal control, conflict-management, complaint-handling, and conduct rules.
- AML/CFT and asset-freezing controls. The regime linked registration to anti-money laundering, counter-terrorist financing, and asset-freezing obligations, with ACPR involvement in the review of relevant controls.
- Custody safeguards. Registered or licensed custody providers had to address client agreements, custody policy, restitution arrangements, segregation between client and own holdings, and limits on use of client assets or keys.
- Public lists and withdrawal powers. The AMF published lists of registered and licensed DASPs and could withdraw registration for cessation, inactivity, non-compliance, or irregular registration, generally after ACPR input.
Enhanced registration and MiCA alignment
France tightened the DASP route before MiCA took full effect. AMF amendments announced in August 2023 made enhanced registration mandatory from January 1, 2024 for new participants seeking to provide the four services subject to mandatory registration. Those changes extended requirements on security, internal controls, conflicts of interest, pricing, claims handling, client information, custody arrangements, and IT resilience. The AMF also aligned optional DASP licensing with MiCA Title V requirements and introduced a simplified route for eligible registered or licensed DASPs applying for MiCA authorization.
Current status and transition
MiCA’s CASP provisions became applicable on December 30, 2024. Existing French DASPs registered or licensed under the PACTE regime could continue for a transitional period, but only for their existing approved service perimeter and without a MiCA passport. AMF notices stated that these providers had until June 30, 2026 to obtain MiCA authorization to continue beyond July 1, 2026. From July 1, 2026, entities offering crypto-asset services in France without MiCA authorization were required to cease those activities. The current French code provision prohibits acting as a crypto-asset service provider without authorization under Article 59 of MiCA.
Jurisdictional impact
The DASP regime was significant because it gave France an early national registration and licensing architecture for crypto services, but it no longer functions as the forward-looking authorization path. Editors should link this profile to France, MiCA, licensing and registration, AML/CFT, custody, consumer protection, and market-structure taxonomy pages. Related coverage should focus on the migration from French DASP status to EU CASP authorization.