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Martinique

Retail_Trading_Status

Allowed-Regulated Unknown
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Analysis ID
#62
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Archived
Created
2025-04-12 06:42
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Live

Executive Summary

Retail cryptocurrency trading is legally permitted and regulated in Martinique under French and EU law. The primary regulator is the AMF, overseeing Digital Asset Service Providers (DASPs) under the PACTE Law and transitioning to Crypto-Asset Service Providers (CASPs) under the EU's MiCA regulation. Key requirements include mandatory registration or authorization, strict AML/KYC compliance, and consumer protection measures. While legal, regulators warn about the risks and volatility associated with crypto-assets, and gains are subject to taxation.

Key Pillars

  • Primary Regulator: Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) oversee service provider registration/licensing, AML/CFT compliance, and market risk monitoring.
  • Core Compliance Requirements: Strict Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) obligations, including Know Your Customer (KYC) procedures, are mandatory for registered/licensed DASPs/CASPs. Anonymous accounts are effectively banned on regulated platforms.
  • Licensing/Registration: Digital Asset Service Providers (DASPs) in France must register with the AMF for specific services, with an optional licensing regime available. The EU's MiCA regulation requires mandatory authorization for Crypto-Asset Service Providers (CASPs) to operate within the EU.

Landmark Laws

  • PACTE Law (Plan d'Action pour la Croissance et la Transformation des Entreprises): Enacted in May 2019 in France. Introduced a definition for "digital assets," established the status of Digital Asset Service Providers (DASPs), mandated registration with the AMF for certain services, and imposed AML/CFT obligations.
  • Markets in Crypto-Assets (MiCA) Regulation (Regulation (EU) 2023/1114): Entered into force in June 2023, with full application from December 30, 2024. Aims to create a harmonized regulatory framework across all EU member states, replacing national regimes like France's PACTE framework (subject to a transition period). Requires mandatory authorization for Crypto-Asset Service Providers (CASPs).

Considerations

  • Crypto assets are referred to as "digital assets" or "crypto-assets" in French and EU legislation.
  • Gains from cryptocurrency trading are subject to taxation in France.
  • Regulators like the AMF and Banque de France consistently warn about the inherent risks and volatility associated with crypto-assets.

Notes

  • Martinique, as an overseas department and region of France, falls under French national law and EU regulations.
  • Existing French DASPs have a transition period until July 1, 2026, to seek MiCA authorization.
  • As of September 2024, 108 companies were registered DASPs in France.

Detailed Explanation

Retail cryptocurrency trading in Martinique is legally permitted and regulated, mirroring the regulatory landscape of mainland France and the broader EU. As an overseas department and region of France, Martinique adheres to French national law and EU regulations. The French framework, primarily the PACTE Law (Plan d'Action pour la Croissance et la Transformation des Entreprises) enacted in May 2019, laid the groundwork by defining "digital assets" and establishing the status of Digital Asset Service Providers (DASPs or PSANs). DASPs offering services like custody or crypto-to-fiat exchange must register with the Autorité des Marchés Financiers (AMF), with assent from the Autorité de Contrôle Prudentiel et de Résolution (ACPR). Registration includes strict AML/CFT obligations and KYC procedures, effectively banning anonymous accounts on regulated platforms. An optional licensing regime is also available for DASPs, along with an optional visa system for ICOs overseen by the AMF.

The EU's Markets in Crypto-Assets (MiCA) Regulation (Regulation (EU) 2023/1114), which entered into force in June 2023 and fully applies from December 30, 2024, aims to harmonize crypto regulation across the EU. MiCA replaces national regimes like the PACTE framework, although existing French DASPs have a transition period until July 1, 2026, to seek MiCA authorization. MiCA establishes rules for Crypto-Asset Service Providers (CASPs), requiring mandatory authorization to operate within the EU, granting authorized CASPs an "EU passport" for cross-border services. It defines different categories of crypto-assets and implements rules to prevent market abuse, strengthening AML/CFT requirements through the Transfer of Funds Regulation (TFR), which mandates the "Travel Rule" for crypto transactions.

Individuals in Martinique are legally allowed to buy, sell, and hold cryptocurrencies but are encouraged to use platforms registered as DASPs in France or authorized as CASPs under MiCA. This ensures adherence to KYC/AML rules and offers consumer protection, though regulators like the AMF and Banque de France consistently warn about the inherent risks of crypto-assets. Gains from cryptocurrency trading are subject to taxation in France. The AMF and ACPR oversee the registration/licensing of service providers, enforce AML/CFT compliance, monitor market risks, and implement EU regulations like MiCA. As of September 2024, 108 companies were registered DASPs in France.

Summary Points

Here's a bullet-point summary of the regulatory analysis report on Retail_Trading_Status in Martinique, designed for quick comprehension:

Retail Cryptocurrency Trading in Martinique: Regulatory Overview

  • I. General Status:

    • Allowed-Regulated: Retail trading of cryptocurrencies is legally permitted in Martinique.
    • Martinique follows French and EU regulations due to its status as an overseas department and region of France.

  • II. Key Regulatory Bodies:

    • Autorité des Marchés Financiers (AMF): France's financial markets regulator.
      • Role: Oversees registration/licensing of Digital Asset Service Providers (DASPs), enforces AML/CFT compliance, monitors market risks, and implements EU regulations like MiCA.
    • Autorité de Contrôle Prudentiel et de Résolution (ACPR): Banking and insurance supervisor.
      • Role: Provides assent for DASP registration with the AMF.

  • III. Key Legislation and Regulations:

    • A. French Framework (PACTE Law - Plan d'Action pour la Croissance et la Transformation des Entreprises):
      • Enacted in May 2019.
      • Introduced a definition for "digital assets."
      • Established the status of Digital Asset Service Providers (DASPs/PSANs).
      • Mandatory registration with the AMF for DASPs providing specific services (custody, exchange for legal tender).
      • Optional licensing regime for DASPs seeking a higher level of regulatory approval.
      • Strict AML/CFT obligations, including KYC procedures.
      • Banned anonymous accounts on regulated platforms.
      • Optional visa system for Initial Coin Offerings (ICOs) overseen by the AMF.
    • B. EU Framework (MiCA Regulation - Markets in Crypto-Assets Regulation (EU) 2023/1114):
      • Entered into force in June 2023, with full application from December 30, 2024.
      • Aims to create a harmonized regulatory framework across the EU.
      • Replaces national regimes like France's PACTE framework (transition period until July 1, 2026).
      • Establishes rules for Crypto-Asset Service Providers (CASPs), requiring mandatory authorization to operate within the EU.
      • Authorized CASPs benefit from an "EU passport" allowing them to offer services across member states.
      • Defines different categories of crypto-assets (e.g., asset-referenced tokens, e-money tokens) with specific issuance and oversight rules.
      • Implements rules to prevent market abuse.
      • Strengthens AML/CFT requirements, aligning with the Transfer of Funds Regulation (TFR) which mandates the "Travel Rule" for crypto transactions.

  • IV. Requirements for Compliance:

    • For Individuals:
      • Use platforms registered as DASPs in France or authorized as CASPs under MiCA within the EU.
      • Comply with KYC/AML requirements when using regulated platforms.
      • Report and pay taxes on gains from cryptocurrency trading.
    • For Platforms (DASPs/CASPs):
      • Registration/Authorization: Mandatory registration with the AMF (PACTE Law) or authorization as a CASP (MiCA).
      • AML/CFT Compliance: Implement robust KYC procedures, monitor transactions, and report suspicious activity.
      • Consumer Protection: Adhere to regulations designed to protect consumers from risks associated with crypto-assets.

  • V. Notable Restrictions or Limitations:

    • Anonymous crypto accounts are effectively banned on regulated platforms.
    • Regulators consistently warn about the inherent risks and volatility associated with crypto-assets.

  • VI. Recent Developments or Changes:

    • The EU's MiCA regulation is being implemented, gradually replacing the French PACTE Law.
    • Existing French DASPs have a transition period until July 1, 2026, to seek MiCA authorization.
    • The Transfer of Funds Regulation (TFR) is being implemented, mandating the "Travel Rule" for crypto transactions.

Full Analysis Report

Report on the Current Status of Retail Cryptocurrency Trading in Martinique

Topic: Retail_Trading_Status
Description: Assess whether individual citizens and residents in the country 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)

1. Current Status: Allowed-Regulated

2. Detailed Narrative Explanation:

Martinique, as an overseas department and region of France, falls under French national law and, by extension, European Union (EU) regulations. Therefore, the status of retail cryptocurrency trading in Martinique mirrors that of mainland France and the broader EU regulatory landscape.

Retail trading of cryptocurrencies (referred to as "digital assets" or "crypto-assets" in French and EU legislation) is legally permitted for individuals in Martinique [5]. However, this activity is subject to a comprehensive and evolving regulatory framework designed to ensure market integrity, consumer protection, and combat financial crime [3, 4, 5].

French Framework (PACTE Law):
France established an early regulatory framework for digital assets through the PACTE Law (Plan d'Action pour la Croissance et la Transformation des Entreprises) enacted in May 2019 [3, 4, 7, 8]. This law introduced:
* A definition for "digital assets," encompassing tokens and virtual currencies not issued by central banks [4, 7].
* The status of Digital Asset Service Providers (DASPs, or Prestataires de Services sur Actifs Numériques - PSANs in French) [4, 7, 8].
* Mandatory registration with the Autorité des Marchés Financiers (AMF), France's financial markets regulator, for DASPs providing specific services like custody of digital assets or exchanging digital assets for legal tender [3, 4, 7, 8, 10]. Registration involves assent from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the banking and insurance supervisor [4, 13].
* An optional licensing regime for DASPs seeking a higher level of regulatory approval [8, 25].
* Strict Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) obligations for registered/licensed DASPs, including robust Know Your Customer (KYC) procedures [4, 5, 25]. Anonymous accounts are effectively banned on regulated platforms [6].
* An optional visa system for Initial Coin Offerings (ICOs) overseen by the AMF [3, 7, 8].

EU Framework (MiCA Regulation):
The EU's Markets in Crypto-Assets (MiCA) Regulation (Regulation (EU) 2023/1114) entered into force in June 2023 and began applying in stages, with full application from December 30, 2024 [17, 19, 27]. MiCA aims to create a harmonized regulatory framework across all EU member states, including France and thus Martinique [17, 21, 26]. Key aspects include:
* Replacing national regimes like France's PACTE framework (though a transition period allows existing French DASPs to operate until July 1, 2026, while seeking MiCA authorization) [14, 17, 26].
* Establishing rules for Crypto-Asset Service Providers (CASPs), requiring mandatory authorization (similar to the French optional license) to operate within the EU [17, 26]. Authorized CASPs benefit from an "EU passport" allowing them to offer services across member states [26, 28].
* Defining different categories of crypto-assets (e.g., asset-referenced tokens, e-money tokens) with specific issuance and oversight rules [14, 17, 27].
* Implementing rules to prevent market abuse [17, 26].
* Strengthening AML/CFT requirements, aligning with the Transfer of Funds Regulation (TFR) which mandates the "Travel Rule" for crypto transactions [5, 14].

Implications for Retail Traders in Martinique:
Individuals in Martinique can legally buy, sell, and hold cryptocurrencies [5, 6]. However, they are strongly encouraged (and effectively required for compliant services) to use platforms registered as DASPs in France or, increasingly, authorized as CASPs under MiCA within the EU [11, 25]. Using regulated platforms ensures adherence to KYC/AML rules and offers a degree of consumer protection, although regulators like the AMF and Banque de France consistently warn about the inherent risks and volatility associated with crypto-assets [19, 23]. Gains from cryptocurrency trading are subject to taxation in France [3, 6, 19, 22].

Regulatory Oversight:
The primary regulators involved are the AMF and the ACPR [4, 12, 13]. They oversee the registration/licensing of service providers, enforce AML/CFT compliance, monitor market risks, and contribute to the implementation of EU regulations like MiCA [12, 14, 25].

In summary, retail crypto trading in Martinique is permitted but operates within a robust and evolving regulatory environment mandated by French and EU law, emphasizing licensed service providers, AML/KYC compliance, and consumer protection measures.

3. Relevant Excerpts/Summaries:

  • Source: Notabene [5]
    • Summary: Confirms that French residents (which includes those in Martinique) are legally permitted to own, buy, and sell virtual assets. It highlights the PACTE Law's requirement for DASPs to register with the AMF and adhere to AML/CTF obligations, including customer due diligence (KYC).
  • Source: Adan (Association for the Development of Digital Assets) [4]
    • Summary: Explains that the French PACTE law (2019) established a regulatory framework supervised by the AMF and ACPR for digital asset service providers (DASPs/PSANs). It defines "digital assets" under French law.
  • Source: Global Legal Insights [3]
    • Summary: States that the PACTE Act introduced the first comprehensive regulatory framework in France for ICOs and intermediaries (DASPs). It notes that DASPs must register with the AMF for services like custody, crypto-to-fiat exchange, crypto-to-crypto exchange, and operating trading platforms. As of September 2024, 108 companies were registered DASPs.
  • Source: Autorité des Marchés Financiers (AMF) [17]
    • Summary: Details the EU MiCA regulation, which creates a harmonized European framework for crypto-asset issuance and services, replacing national frameworks like France's PACTE law (subject to a transition period). From December 30, 2024, only authorized CASPs can provide crypto-asset services in the EU.
  • Source: Clifford Chance [8]
    • Summary: Describes the French "loi Pacte" as introducing a comprehensive legal regime for digital assets, including mandatory AMF registration for certain DASP services and an optional license.
  • Source: Coincub [6]
    • Summary: States crypto trading is legal in France, but the government combats anonymity, banning anonymous accounts and requiring strict identity verification (KYC) by exchanges.

4. Source URLs:

  • [3] Global Legal Insights (Blockchain & Cryptocurrency Laws & Regulations 2025 | France): https://www.globallegalinsights.com/practice-areas/blockchain-laws-and-regulations/france
  • [4] Adan (The French Regulatory Framework for Markets in Crypto-Assets): https://adan.eu/en/publications/the-french-regulatory-framework-for-markets-in-crypto-assets
  • [5] Notabene (Travel Rule Crypto in France by the AMF [2025]): https://notabene.id/crypto-travel-rule-france
  • [6] Coincub (France Crypto Regulations: 5 Must-Know Facts for Investors): https://coincub.com/country/france-crypto-regulation-guide/
  • [7] International Bar Association (A French point of view: from crypto assets to digital assets): https://www.ibanet.org/article/9F4E8D6C-B7A7-4F3B-9E8C-7D9B1A0C8F8F
  • [8] Clifford Chance (FRANCE LEADS THE WAY WITH A DEDICATED LEGAL REGIME FOR DIGITAL ASSETS AND ICOS): https://www.cliffordchance.com/content/dam/cliffordchance/briefings/2019/07/france-leads-the-way-with-a-dedicated-legal-regime-for-digital-assets-and-icos.pdf
  • [10] Autorité des Marchés Financiers (Digital assets: the AMF amends its General Regulation and updates its policy): https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases/digital-assets-amf-amends-its-general-regulation-and-updates-its-policy
  • [11] Invezz (7 Best Exchanges to Buy Bitcoin in Martinique 2025): https://invezz.com/buy-bitcoin/martinique/
  • [12] Financial Stability Board (Peer Review of France): https://www.fsb.org/2024/12/peer-review-of-france/
  • [13] ACPR (Speech by First Deputy Governor Denis Beau - April 2024): https://acpr.banque-france.fr/en/interventions/montpellier-24-avril-2024-central-bank-digital-currency-cbdc-and-crypto-assets-speech-first
  • [14] Gide Loyrette Nouel (Publication of two ordinances relating to crypto-asset activities based on MiCA and TFR): https://www.gide.com/en/news/publication-of-two-ordinances-relating-to-crypto-asset-activities-based-on-mica-and-tfr
  • [17] Autorité des Marchés Financiers (The European regulation Markets in Crypto-Assets (MiCA)): https://www.amf-france.org/en/regulation/digital-finance/european-regulation-markets-crypto-assets-mica
  • [19] Economie.gouv.fr (Le régime fiscal des cryptomonnaies): https://www.economie.gouv.fr/cedef/regime-fiscal-cryptomonnaies
  • [21] Fincrime Central (Cryptocurrency Regulation in France: Key Insights for Investors in 2025): https://fincrimecentral.com/p/cryptocurrency-regulation-in-france
  • [22] Traders Union (Crypto Regulations And Taxes In France | Rules & Compliance): https://tradersunion.com/interesting-articles/crypto-regulations-and-taxes-in-france/
  • [23] Banque de France (Help and FAQs - Crypto-assets): https://www.banque-france.fr/en/communaute-banque-de-france/help-and-faqs
  • [25] Beaubourg Avocats (Cryptocurrency Laws and Regulations | France | 2023): https://beaubourg-avocats.fr/en/cryptocurrency-laws-and-regulations-france-2023/
  • [26] Autorité des Marchés Financiers (Crypto-asset markets: the MiCA regulation adopted by the European Parliament): https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases/crypto-asset-markets-mica-regulation-adopted-european-parliament
  • [27] LegalBison (MiCA Regulation: Our 2025 Guide for Licensing & Compliance): https://legalbison.com/mica-regulation/
  • [28] Dechert LLP (Overview of crypto asset class regulations in the EU and the US): https://www.dechert.com/knowledge/publication/2023/1/overview-of-crypto-asset-class-regulations-in-the-eu-and-the-u.html

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