Cryptocurrency exchange in France is subject to European and national regulation. For users, this means that when choosing a platform or other service, it’s important to consider not only the exchange rate and commission, but also the legal status of the service provider. This issue has become especially relevant since the end of the transition period associated with the implementation of the European MiCA regulation.
How cryptocurrency exchange works in France
Exchanging cryptocurrency through the online wallet Crypto France typically means purchasing digital assets for euros, selling cryptocurrency for fiat, or exchanging one cryptoasset for another. Such transactions can be performed through the following systems:
- specialized cryptocurrency platforms;
- brokerage services;
- platforms providing relevant services.
In France, cryptocurrencies are considered digital assets, not official currency. For example, the French financial regulator, the AMF, specifically emphasizes that Bitcoin is not a currency, and the euro remains the country’s official legal tender.
What has changed since the introduction of MiCA
One of the key features of the current French market is the end of the transition period from the national PSAN regime to the European MiCA regulatory system.
From July 1, 2026, companies wishing to provide cryptoasset services in France must be authorized as cryptoasset service providers (PSCA) in accordance with MiCA requirements. The previous PSAN status is no longer sufficient to continue such activities.
This also significantly impacts the average user. Before exchanging cryptocurrency, it is advisable to check whether the chosen company has the necessary authorization and whether it is listed on the relevant official lists. The AMF also warns of the existence of platforms operating without the necessary authorization and recommends verifying their legal status.
What to consider when choosing a service
When exchanging cryptocurrency, the stated rate is not the only factor. The final cost may depend on the platform’s commission, the spread between the purchase and sale prices, the deposit and withdrawal methods.
Customer identification requirements must also be taken into account. Regulated cryptocurrency services operate under anti-money laundering and anti-terrorist financing regulations, so users may be required to verify their identity and provide certain documents. Following the end of the transition period, European regulators are paying particular attention to this area.
