Pin and benchmark
Pin one jurisdiction. Line up to five rivals against it. Deltas show where each peer is better or worse.
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| Dimension |
Pinned 🇪🇪 Estonia partly open Verified 2026-08-15
|
🇫🇷 France
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | MiCA CASP authorisation; implemented via the Crypto-Assets Market Act (Kruptovarade turu seadus, KrüTS), in force 1 July 2024. | MiCA CASP authorisation (French 'agrement PSCA'); replaces the legacy PSAN regime (mandatory AML registration + optional licence). A single authorisation covers the 10 MiCA services. |
| Regulator | Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) | AMF (Autorite des marches financiers) grants and supervises the CASP authorisation; ACPR (Banque de France) gives binding assent on AML/CFT and prudential aspects via a joint examination team. |
| Capital requirement | Estonia capital requirement is included in the £349 pass. | France capital requirement is included in the £349 pass. |
| Timeline to authorisation | Estonia timeline to authorisation is included in the £349 pass. | France timeline to authorisation is included in the £349 pass. |
| Local substance | Estonia local substance is included in the £349 pass. | France local substance is included in the £349 pass. |
| Application cost | Estonia application cost is included in the £349 pass. | France application cost is included in the £349 pass. |
| Ongoing cost | Estonia ongoing cost is included in the £349 pass. | France ongoing cost is included in the £349 pass. |
| Passporting | Estonia passporting is included in the £349 pass. | France passporting is included in the £349 pass. |
| MiCA CASPs approved | Estonia mica casps approved is included in the £349 pass. | France mica casps approved is included in the £349 pass. |
| Key restrictions | Estonia key restrictions is included in the £349 pass. | France key restrictions is included in the £349 pass. |
| Recent changes | Estonia's VASP population collapsed from 641 valid licences (mid-2021 peak) to 36 remaining by early 2026; as of recent reporting only one entity (Lightspark Payments Europe AS) had received full MiCA CASP authorisation. From 18 March 2026, CASP applications must go through FI's new application portal. | France used the full 18-month transition, ending 1 Jul 2026 (today). Deblock first CASP (May 2025), SG-Forge (Oct 2025); ~18 CASPs authorised by 28 May 2026. AMF adopted ESMA staff knowledge/competence guidelines (Mar 2026). |
| Difficulty rating | Estonia difficulty rating is included in the £349 pass. | France difficulty rating is included in the £349 pass. |
Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.
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