International and local entrepreneurs can rely on our support for obtaining a crypto license in France. Our company formation consultants in France can offer information about how to open a cryptocurrency company in France, including assistance in getting a Virtual Asset Service Provider (VASP) license in France. Below is information on this topic that might help investors have an idea beforeopening a company in France.
Regulations related to the cryptocurrency sector in France
Those who want to open a cryptocurrency company in France should know the government is planning to adopt new measures which allow for the adoption of digital money, such as the Bitcoin. For this purpose, the National Bank of France also installed cryptocurrency ATMs. The current regulations also provide for the following:
- the existence of a cryptocurrency market;
- payment of the capital gains tax on digital monies;
- transparency in relation to cryptocurrency transactions.
Detailed information can be offered to persons interested in setting up a company in France in the cryptocurrency sector. Our team is ready to explain the requirements for getting a crypto license in France.
Getting the crypto license in France
Autorite des Marches Financiers or AMF is the authority that issues crypto license in France for those who want to do business in this financial sector. There are several rules and formalities that must be considered to obtain a Virtual Asset Service Provider (VASP) license in France. We present some of these:
- You must register a legal entity in France. The most recommended structure is SARL, the variant for limited liability companies.
- Pre-applying for a crypto exchange license in France is the next step. This validates the business you want to open.
- AMF requires concrete and solid business plan to open a cryptocurrency company in France and obtain the necessary license. It must include details about the business, the platforms or the type of software to be used, the technical solutions, etc.
- The company is also required to have employees with experience in the cryptocurrency business.
- Authorities may request additional interviews before a crypto exchange license in France is issued. You can discuss these issues with our French local agents.
- It is necessary to develop a set of internal regulations, which must include the internal risks of the business.
- You must comply with anti-money laundering legislation in France before opening a cryptocurrency company in France.
So, these are some of the formalities related to crypto license in France. If you want to apply for this type of license, we advise you to get in touch with our specialists.
What does the new crypto sector bring to France?
France is a welcoming country in terms of cryptocurrency and also one of the most regulated in the world. In fact, France is known as the first legal framework initiator in this sector, implying digital currency providers. Moreover, in France, the provisions of the EU’s Markets in Crypto-Assets Regulation (MiCA) must be respected when a cryptocurrency company is established. Here are other interesting aspects of this sector in full expansion in France:
- Initial coin offerings (ICOs) have been implemented in France since 2019.
- A novelty in the field is the fact that the Autorité des Marchés Financiers in France (AMF) issues a specific visa to those seeking to pursue a crypto project/blockchain. This cannot be done before opening a company in France.
- Complying with the anti-money laundering framework (AML) is a very important aspect for those who want to offer crypto-related services. The French authorities continue to improve this legislation.
- The tax regime concerning digital currency in France was also established. A flat rate of 30% is imposed for occasional gains from the sale of cryptocurrency.
- Professional activities linked to virtual currency in France are taxed up to 45% rate as these are considered non-commercial profits.
- Certain banks have obtained a crypto license in France to allow customers to trade and sell digital money.
We remind local and international entrepreneurs to talk to our team if interested in company incorporation in France, and especially the cryptocurrency sector. We can help businessmen obtain a crypto license in France.
Cryptocurrency statistics in France
We invite you to discover some statistical data about the cryptocurrency sector in France:
- An annual growth of approximately 7.87% during 2024-2028 in the cryptocurrency sector in France is estimated.
- A total revenue of around USD 1.461 million is expected by the end of 2028 in the crypto field in France.
- It is expected that the number of virtual currency users will exceed 16.32 million by the end of 2024 in France.
In addition to the services offered for obtaining a crypto exchange license in France, our specialists can also help you with others. For example, you can opt for the services of our accountants in France as soon as you decide to do business in this country. We therefore invite you to contact us for more details about company formation in France.