France's Financial Markets Authority published an updated overview of the French regime for digital asset service providers (prestataires de services sur actifs numériques, PSAN), setting out when prior registration is compulsory, how France-based firms can seek optional approval, and where to access the official lists of registered, approved and struck-off providers. The guidance reiterates that registration with the authority is mandatory to provide in France: custody of digital assets for clients, buying or selling digital assets for legal tender, exchanging digital assets for other digital assets, or operating a digital asset trading platform. Registration can apply to PSAN established outside France under the conditions described in the authority’s position DOC 2020-07. The authority acts as the single entry point for registration and, with a binding opinion from the French Prudential Supervision and Resolution Authority (ACPR), assesses the fitness and propriety of executives and beneficial owners; AML/CFT compliance is specifically checked for custody and fiat purchase/sale services, while providers remain responsible for implementing the full set of AML/CFT and asset-freezing obligations. For optional approval (available to firms established in France), the page summarises additional organisational, financial and conduct requirements, including professional indemnity insurance or minimum own funds, resilient IT, internal control, complaints handling, conflicts-of-interest arrangements, and clear client information and contractual documentation. The publication also explains the circumstances and process for striking off a registered PSAN (non-compliance, inactivity, or cessation), the related publication and client-notification expectations, and custody wind-down obligations. The struck-off list includes, among others, Foris DAX MT Limited, shown as removed on 12 February 2025 due to “caducity” following a MiCA authorisation decision.
France Autorite des marches financiers 2025-03-26
France's Financial Markets Authority updates guidance on mandatory PSAN registration and optional approval and republishes registered and struck-off provider lists
France's Financial Markets Authority updated its overview for digital asset service providers (PSAN), detailing mandatory registration and optional approval processes. The guidance includes AML/CFT compliance checks and a binding opinion from the French Prudential Supervision and Resolution Authority. It also covers conditions for striking off registered PSANs, with Foris DAX MT Limited recently removed due to "caducity" after a MiCA authorisation decision.