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Saint Martin (French part)

Retail_Trading_Status

Allowed-Regulated Unknown
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Analysis ID
#371
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Latest
Created
2025-06-26 12:58
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Live

Executive Summary

Retail cryptocurrency trading is legally permitted in Saint Martin (French part) under French and EU regulations. The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) oversee these activities, with Digital Asset Service Providers (DASPs) required to register with the AMF and comply with AML/CFT obligations. The EU's Markets in Crypto-Assets (MiCA) Regulation will further harmonize the regulatory framework, requiring licensing for CASPs and aiming to enhance investor protection.

Key Pillars

The regulatory framework is built upon French law and EU regulations. The primary regulator is the Autorité des Marchés Financiers (AMF), which oversees Digital Asset Service Providers (DASPs). Core compliance requirements include Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) obligations, as well as registration with the AMF for DASPs offering services like crypto-to-fiat exchange, custody, or platform operation. Some DASPs may seek an optional license, involving more stringent requirements. The upcoming MiCA regulation will introduce licensing requirements for Crypto-Asset Service Providers (CASPs).

Landmark Laws

French Monetary and Financial Code (Code Monétaire et Financier): Articles L54-10-1 define digital assets and services, establish mandatory registration for DASPs with the AMF, and outline optional licensing.
European Union - Markets in Crypto-Assets (MiCA) Regulation: Aims to create a harmonized regulatory framework for crypto-assets across the EU, introducing rules for issuers and CASPs, including authorization, prudential requirements, and measures against market abuse.

Considerations

Cryptocurrencies are treated as digital assets subject to French and EU financial regulations. The AMF and ACPR raise concerns about risks associated with crypto-assets, necessitating AML/CFT compliance and registration for DASPs. Operational challenges are mitigated through compliance with KYC/AML procedures on regulated platforms. The applicability of French law in Saint Martin stems from its status as an overseas collectivity.

Notes

As an overseas collectivity of France, Saint Martin's cryptocurrency regulation mirrors that of mainland France, with EU regulations also applying. Specific documents from local Saint Martin authorities on cryptocurrency are scarce. The Institut d'Émission des Départements d'Outre-Mer (IEDOM) enforces financial regulations set at the national and European levels. The AMF maintains a whitelist of registered DASPs and a blacklist of unauthorized platforms.

Detailed Explanation

Saint Martin, as an overseas collectivity of France, adheres to French national laws and EU regulations, making retail cryptocurrency trading legally permissible. The regulatory environment is shaped by French law, addressing risks and opportunities associated with crypto-assets. Key components include Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) obligations and registration requirements for Digital Asset Service Providers (DASPs), also known as Prestataires de Services sur Actifs Numériques (PSANs). The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) oversee these activities. DASPs providing services like crypto-to-fiat exchange, operating a crypto-asset trading platform, or providing custody services must register with the AMF, demonstrating AML/CFT compliance; an optional license is also available with more stringent requirements.

The French Monetary and Financial Code (Code Monétaire et Financier), specifically Articles L54-10-1 and subsequent articles, defines digital assets and digital asset services, establishing the mandatory registration for DASPs. The AMF maintains a white list of registered DASPs and a blacklist of unauthorized platforms. The European Union's Markets in Crypto-Assets (MiCA) Regulation is progressively coming into force, creating a harmonized regulatory framework for crypto-assets across EU member states, including France and its territories. MiCA introduces licensing requirements for crypto-asset service providers (CASPs) and issuers, enhancing investor protection, market integrity, and financial stability. French legislation has been aligning with MiCA, and existing PSANs will transition to the MiCA regime.

As an EU regulation, MiCA will be applicable in France and its territories. Under Article 74 of the French Constitution, Saint Martin has a degree of autonomy, but key areas like currency, finance, and criminal law remain under French state control unless specific derogations are granted. Financial regulations established at the national level in France generally apply to Saint Martin. The Institut d'Émission des Départements d'Outre-Mer (IEDOM), acting as a branch of the Banque de France, is involved in the local application of financial regulations.

Therefore, individuals in Saint Martin can legally buy, sell, and hold cryptocurrencies, but must do so through platforms complying with French and EU regulations, particularly KYC/AML procedures. While specific documents directly mentioning "Saint Martin" and "cryptocurrency" from local authorities may be scarce, the French and EU legal frameworks are determinative. The IEDOM would enforce regulations set at the national and European levels. The AMF is the primary regulator for digital asset service providers (DASPs or PSANs) in France and registration includes requirements related to AML/CFT.

Summary Points

Retail Cryptocurrency Trading Status in Saint Martin (French Part) - Regulatory Overview

Date: 2025-06-26

Overall Status: Allowed-Regulated

I. General Regulatory Framework

  • Legal Basis: Cryptocurrency trading is legally permitted for individuals in Saint Martin (French part).
  • Applicability of French Law: As an overseas collectivity of France, Saint Martin is subject to French national laws and EU regulations regarding cryptocurrency.
  • Key Principle: Individuals must use platforms compliant with French and EU regulations, particularly regarding KYC/AML.

II. Key Regulatory Bodies and Their Roles

  • Autorité des Marchés Financiers (AMF) - France:
    • Role: Primary regulator for Digital Asset Service Providers (DASPs/PSANs).
    • Responsibilities:
      • Registration of DASPs providing services like crypto-to-fiat exchange, crypto-to-crypto exchange, custody, and platform operation.
      • AML/CFT compliance oversight.
      • Maintains a whitelist of registered DASPs and a blacklist of unauthorized platforms.
    • URL: https://www.amf-france.org/en/regulation/digital-assets
  • Autorité de Contrôle Prudentiel et de Résolution (ACPR):
    • Role: Banking and insurance supervisor in France, involved in overseeing financial stability aspects related to crypto-assets.
  • Institut d'Émission des Départements d'Outre-Mer (IEDOM):
    • Role: Branch of the Banque de France for overseas territories, involved in the local application of financial regulations in Saint Martin.
    • URL: https://www.iedom.fr/

III. Important Legislation and Regulations

  • French Monetary and Financial Code (Code Monétaire et Financier):
  • European Union - Markets in Crypto-Assets (MiCA) Regulation:
    • Purpose: Harmonized regulatory framework for crypto-assets across the EU.
    • Impact: Introduces rules for issuers of crypto-assets and crypto-asset service providers (CASPs).
    • Requirements: Authorization, prudential requirements, conduct of business rules, and measures to prevent market abuse.
    • Applicability: Applicable in France and its territories, including Saint Martin.
    • URL: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114

IV. Requirements for Compliance

  • DASP Registration: Digital Asset Service Providers (DASPs) operating in Saint Martin must register with the AMF.
  • AML/CFT Compliance: Strict adherence to Anti-Money Laundering and Counter-Terrorist Financing regulations is mandatory.
  • KYC Procedures: Platforms must implement Know Your Customer (KYC) procedures to verify user identities.
  • MiCA Compliance (Future): Existing PSANs will need to transition to the MiCA regime as it comes into force.

V. Notable Restrictions or Limitations

  • Platform Compliance: Individuals must use platforms that are compliant with French and EU regulations.
  • Unauthorized Platforms: Using platforms not registered with the AMF or operating outside the regulatory framework is prohibited.

VI. Recent Developments or Changes

  • MiCA Implementation: French legislation is aligning with the EU's Markets in Crypto-Assets (MiCA) Regulation.
  • Transition to MiCA: Existing PSANs will need to adapt to the new MiCA requirements.

VII. Additional Information

Full Analysis Report

Report: Retail Cryptocurrency Trading Status in Saint Martin (French Part)

Date: 2025-06-26

Topic: Retail_Trading_Status

Description: Assess whether individual citizens and residents in Saint Martin (French part) are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

Retail_Trading_Status: Allowed-Regulated

1. Current Status: Allowed-Regulated

2. Detailed Narrative Explanation:

Saint Martin, as an overseas collectivity of France, is subject to French national laws and, by extension, European Union regulations. Therefore, the legal status of retail cryptocurrency trading in Saint Martin (French part) mirrors that of mainland France.

Cryptocurrency trading is legally permitted for individuals in France and its territories, including Saint Martin. The regulatory framework is primarily established by French law, which has been progressively developed to address the risks and opportunities associated with crypto-assets. Key aspects of this framework include Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) obligations and registration requirements for Digital Asset Service Providers (DASPs), known in French as Prestataires de Services sur Actifs Numériques (PSANs).

The Autorité des Marchés Financiers (AMF), France's financial markets regulator, and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the banking and insurance supervisor, are the main regulatory bodies overseeing these activities. DASPs wishing to provide services such as exchanging crypto-assets for legal tender, operating a crypto-asset trading platform, or providing custody services for crypto-assets to clients in France (including its territories) must register with the AMF. This registration process involves demonstrating compliance with AML/CFT requirements. Some DASPs may also seek an optional license, which entails more stringent requirements.

Furthermore, the European Union's Markets in Crypto-Assets (MiCA) Regulation, which is progressively coming into force, will create a harmonized regulatory framework for crypto-assets across EU member states, including France and by extension its territories like Saint Martin. MiCA will introduce licensing requirements for crypto-asset service providers (CASPs) and issuers of crypto-assets, aiming to enhance investor protection, market integrity, and financial stability. French legislation has been aligning with MiCA, and existing PSANs will eventually need to transition to the MiCA regime.

Therefore, individuals in Saint Martin can legally buy, sell, and hold cryptocurrencies, but they must do so through platforms that comply with French and EU regulations, particularly concerning KYC/AML procedures. The regulatory environment is robust and aims to mitigate risks associated with crypto-assets.

3. Specific, Relevant Text Excerpts and Sources:

  • Autorité des Marchés Financiers (AMF) - France:

    • Excerpt (Summary): The AMF is the primary regulator for digital asset service providers (DASPs or PSANs) in France. DASPs providing services like crypto-to-fiat exchange, crypto-to-crypto exchange, custody of digital assets, or operating a digital asset trading platform must register with the AMF. This registration includes requirements related to AML/CFT. The AMF maintains a white list of registered DASPs and a blacklist of unauthorized platforms.
    • Source: AMF website sections on Digital Assets and DASPs.
    • URL: https://www.amf-france.org/en/regulation/digital-assets

  • French Monetary and Financial Code (Code Monétaire et Financier):

    • Excerpt (Summary): Articles L54-10-1 and subsequent articles of the Monetary and Financial Code define digital assets and digital asset services. They establish the mandatory registration for DASPs with the AMF and the optional license. These provisions lay down the legal basis for regulating crypto-asset activities in France.
    • Source: Légifrance - The official website for French legislation.
    • URL: https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000038495443/#LEGISCTA000038495443 (Note: This link points to the relevant section of the code. Specific articles need to be navigated to.)

  • European Union - Markets in Crypto-Assets (MiCA) Regulation:

    • Excerpt (Summary): MiCA aims to create a harmonized regulatory framework for crypto-assets across the EU. It introduces rules for issuers of crypto-assets and for crypto-asset service providers (CASPs), including authorization requirements, prudential requirements, conduct of business rules, and measures to prevent market abuse. As an EU regulation, MiCA will be applicable in France and its territories.
    • Source: Official Journal of the European Union.
    • URL: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114

  • Applicability of French Law in Saint Martin:

    • Excerpt (Summary): As an overseas collectivity under Article 74 of the French Constitution, Saint Martin has a degree of autonomy. However, key areas such as currency, finance, and general criminal law typically remain under the purview of the French state unless specific derogations are granted. Financial regulations established at the national level in France generally apply to Saint Martin. The Institut d'Émission des Départements d'Outre-Mer (IEDOM), which acts as a branch of the Banque de France for these territories, would be involved in the local application of financial regulations.
    • Source: Official French government websites explaining the status of overseas collectivities, and the IEDOM website.
    • URL: https://www.vie-publique.fr/fiches/20283-quel-est-le-statut-des-collectivites-doutre-mer (General information on French overseas collectivities) and https://www.iedom.fr/ (IEDOM website, which covers Saint Martin).

4. Direct, Accessible URL Links to Sources:

Note: While specific documents directly mentioning "Saint Martin" and "cryptocurrency" from local Saint Martin authorities might be scarce, the overarching French and EU legal frameworks are determinative for the territory. The IEDOM, as the local representative of the Banque de France, would enforce regulations set at the national and European levels.

Sources (Raw Data)

 
{
  "grounding_chunks": [],
  "grounding_supports": [],
  "web_search_queries": []
}

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