France — AMF DASP licence.
The Autorité des Marchés Financiers' Digital Asset Service Provider registration is the EU MiCA gateway from France.
A considered route,
not a shortcut.
This jurisdiction rewards operators who treat the application as the start of a supervisory relationship.
When this is the right choice
When to consider an alternative
Permissions under
one Act.
Choosing the right tier and scope is the most consequential decision in the application.
DASP Registration (Mandatory)
Mandatory registration with the AMF for entities providing: (1) digital asset custody, (2) digital asset trading platform operation, (3) digital asset exchange against fiat, and (4) digital asset peer-to-peer exchange. All four require AML compliance and AMF registration before client-facing operations.
DASP Optional Approval
A voluntary full approval from the AMF — a higher standard than mandatory registration. Approved entities display the AMF label and can access institutional clients and certain market infrastructure that require approved (not merely registered) counterparties. Approval serves as the de facto MiCA readiness credential.
MiCA CASP Authorisation (from 2024)
Under MiCA, DASP holders transition to full CASP authorisation. The AMF is the French NCA for MiCA and has published detailed transition guidance. A MiCA CASP authorisation issued by the AMF provides a full EU passport across all 27 member states for all covered crypto asset services.
Phases to licence grant.
Pre-registration preparation
Months 1—2French entity incorporated (SAS or SA). AML/CTF compliance programme built to AMF/ACPR standard. KYC procedures, suspicious transaction reporting, and Travel Rule compliance framework documented.
AMF registration filing
Month 2—3Registration dossier submitted to the AMF — entity documentation, UBO disclosures, AML manual, cybersecurity framework, and description of services. Mandatory registration typically confirmed within three months.
Optional approval (if sought)
Months 3—9Full AMF approval process — detailed business plan review, governance assessment, financial projections, fit-and-proper for directors, and ACPR AML review. AMF approval is significantly more demanding than registration alone.
MiCA CASP transition
Ongoing post-2024AMF-registered and approved entities transition to MiCA CASP under the grandfathering provisions. The AMF CASP authorisation provides EU passport. We manage the MiCA transition documentation and EU notification process.
Cost and regulatory
burden.
Year-one spend is dominated by substance — resident director, office, compliance officer, external audit — not the licence fee itself.
| Cost item | Amount |
|---|---|
| AMF registration fee | EUR 0 (no charge) |
| AMF optional approval fee | EUR 5,000—10,000 |
| Annual AMF supervisory contribution | EUR 3,000—15,000 |
| French company incorporation (SAS) | EUR 2,000—5,000 |
| AML programme & ACPR compliance | EUR 20,000—50,000 / yr |
| Legal & regulatory counsel (setup) | EUR 30,000—70,000 |
| Year-1 total | ~EUR 60—150K (yr 1) |
Mandatory AMF registration carries no government fee. The significant cost is building the compliance infrastructure — particularly the ACPR-standard AML programme, Travel Rule compliance, and French-language documentation required for the approval process. MiCA CASP transition adds additional compliance investment.
What founders
ask before filing.
The questions we get on every diagnostic call. If yours isn't here, raise it in the consultation.
Tell us where
you want to
operate.
Forty-five minutes with a partner. Jurisdiction memo within seven days. No retainer required to start.
No retainer required.