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| Dimension |
Pinned 🇫🇷 France partly open Verified 2026-08-15
|
🇮🇹 Italy
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | MiCA CASP authorisation (French 'agrement PSCA'); replaces the legacy PSAN regime (mandatory AML registration + optional licence). A single authorisation covers the 10 MiCA services. | MiCA CASP authorisation under EU Regulation 2023/1114, transposed via Legislative Decree 129/2025 and implemented through Consob Resolution 23700/2025. Pre-MiCA VASPs (registered under the OAM register per AML Decree 90/2017) had to convert to full CASP authorisation; transitional regime for existing VASPs was extended to 1 July 2026. |
| Regulator | 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. | Split regulator model: Consob (Commissione Nazionale per le Società e la Borsa) is the lead competent authority issuing CASP authorisation and supervising conduct-of-business/market integrity; Banca d'Italia is consulted on and supervises prudential aspects (capital, governance, AML) and directly handles credit institutions/e-money institutions offering crypto services (e.g. Banca Sella's notification route). |
| Capital requirement | France capital requirement is included in the £349 pass. | Italy capital requirement is included in the £349 pass. |
| Timeline to authorisation | France timeline to authorisation is included in the £349 pass. | Italy timeline to authorisation is included in the £349 pass. |
| Local substance | France local substance is included in the £349 pass. | Italy local substance is included in the £349 pass. |
| Application cost | France application cost is included in the £349 pass. | Italy application cost is included in the £349 pass. |
| Ongoing cost | France ongoing cost is included in the £349 pass. | Italy ongoing cost is included in the £349 pass. |
| Passporting | France passporting is included in the £349 pass. | Italy passporting is included in the £349 pass. |
| MiCA CASPs approved | France mica casps approved is included in the £349 pass. | Italy mica casps approved is included in the £349 pass. |
| Key restrictions | France key restrictions is included in the £349 pass. | Italy key restrictions is included in the £349 pass. |
| Recent changes | 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). | Consob Resolution 23700/2025 (introducing the EUR 20,000 fee) took effect 1 December 2025; the transitional regime for pre-MiCA VASPs was extended to 1 July 2026 (later than the original MiCA default cut-off), giving Italian firms extra runway. As of 1 July 2026, 8 firms hold full CASP authorisation, a sharp jump from near-zero conversions reported earlier in 2026, though still a small fraction of the pre-MiCA registered population. |
| Difficulty rating | France difficulty rating is included in the £349 pass. | Italy 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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