New Caledonia
Retail_Trading_Status
- Analysis ID
- #743
- Version
- Latest
- Created
- 2025-12-12 04:56
- Run
- 27a6bd73...
- History
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- Workflow Stage
- Step 1
Executive Summary
Retail cryptocurrency trading is legal and regulated in New Caledonia, which follows the French regulatory framework extended to the territory. The primary regulator is the French Autorité des marchés financiers (AMF), and intermediaries must be registered as Digital Asset Service Providers (PSAN) to operate legally. While the Institut d'Émission d'Outre-Mer (IEOM) issues risk warnings, individual investors benefit from a favorable tax regime where occasional capital gains are currently tax-exempt.
Key Pillars
Autorité des marchés financiers (AMF) - Primary regulator for licensing and registration
Institut d'Émission d'Outre-Mer (IEOM) - Local central bank providing monetary oversight and consumer warnings
PSAN Registration - Mandatory for custody and fiat-to-crypto exchange services
Anti-Money Laundering (AML) - French AML/CFT rules extended to the territory
Landmark Laws
Loi PACTE (Law on Business Growth and Transformation) (Loi n° 2019-486) - Enacted: 2019-05-22
- Established the regulatory framework for digital assets in France, creating the PSAN status (mandatory registration for custody/fiat exchange, optional license for others).
- Source
Ordonnance extending Loi PACTE to Overseas Territories (Ordonnance n° 2019-741) - Enacted: 2019-07-17
- Explicitly extends the provisions of the Monetary and Financial Code regarding digital assets (Loi PACTE) to New Caledonia, French Polynesia, and Wallis and Futuna.
- Source
Considerations
Tax Advantage: Occasional capital gains from crypto assets are currently tax-free for individuals under local tax rules.
Professional Trading: 'Habitual' trading activity is reclassified as professional income and subject to standard income tax.
Currency: The local currency is the CFP Franc (XPF), not the Euro, though the regulatory framework is French.
Consumer Warning: The IEOM actively warns against using unregistered platforms and emphasizes the volatility risks.
Notes
New Caledonia uses the CFP Franc (XPF), which has a fixed exchange rate with the Euro. This provides some monetary stability but adds a conversion step for users on platforms that primarily trade in EUR or USD.
Remaining Uncertainties
- Whether specific local legislation will be introduced to close the tax exemption for occasional individual traders.
- The exact threshold between 'occasional' and 'habitual' trading in local case law.
Detailed Explanation
Detailed Explanation
Retail cryptocurrency trading is legal and regulated in New Caledonia. The territory operates under the French regulatory framework for digital assets, which was formally extended to it. The primary legal foundation is the French Loi PACTE (Law on Business Growth and Transformation), enacted on 22 May 2019, which established the regulatory regime for digital assets in France, including the creation of the mandatory Digital Asset Service Provider (PSAN) registration. This law's application to New Caledonia was confirmed by the Ordonnance n° 2019-741, enacted on 17 July 2019, which explicitly extended the relevant provisions of the Monetary and Financial Code to the territory. Consequently, the primary regulator is the French Autorité des marchés financiers (AMF), which oversees the licensing and registration of crypto service providers. The local Institut d’Émission d’Outre-Mer (IEOM), which acts as the central bank, provides monetary oversight and issues consumer warnings about the risks of using unregistered platforms and the inherent volatility of crypto assets. For a company to legally offer services like custody of digital assets or the exchange of fiat currency for crypto in New Caledonia, it must be registered with the AMF as a PSAN. The French Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) rules are also in force. For individual investors, a notable advantage exists under local tax rules: occasional capital gains from cryptocurrency are currently tax-exempt. However, this favorable treatment does not apply to activity classified as 'habitual' trading, which is reclassified as professional income and subject to standard income tax. It is important to note that while the regulatory framework is French, the official currency is the CFP Franc (XPF), which maintains a fixed exchange rate with the Euro, adding a layer of currency conversion for users on international platforms.
Summary Points
I. Regulatory Status
* Retail cryptocurrency trading is legal and regulated.
* The territory follows the French regulatory framework, extended to New Caledonia.
* Status is classified as Allowed-Regulated.
II. Key Regulatory Bodies
* Autorité des marchés financiers (AMF): The primary French regulator responsible for licensing and registration of Digital Asset Service Providers (PSAN).
* Institut d’Émission d’Outre-Mer (IEOM): The local central bank providing monetary oversight and issuing consumer warnings about risks and unregistered platforms.
III. Important Legislation
* Loi PACTE (Law on Business Growth and Transformation) (Loi n° 2019-486)
* Enacted: 2019-05-22.
* Established the French regulatory framework for digital assets, creating the PSAN status.
* Mandatory registration for custody and fiat-to-crypto exchange services.
* Ordonnance extending Loi PACTE to Overseas Territories (Ordonnance n° 2019-741)
* Enacted: 2019-07-17.
* Explicitly extends the provisions of the Loi PACTE regarding digital assets to New Caledonia.
IV. Compliance Requirements
* PSAN Registration: Mandatory for any intermediary offering custody or fiat-to-crypto exchange services.
* Anti-Money Laundering (AML): French AML/CFT rules are fully applicable.
* Tax Reporting: Individuals must distinguish between occasional and habitual trading for tax purposes.
V. Notable Restrictions or Limitations
* Service Provider Access: Consumers are strongly advised by the IEOM to only use registered PSANs; using unregistered platforms carries significant risk.
* Professional Trading Classification: 'Habitual' trading activity is reclassified as professional income and loses the favorable tax treatment for occasional gains.
VI. Recent Developments or Notes
* Tax Advantage: A key feature for individual investors is that occasional capital gains from crypto assets are currently tax-exempt under local tax rules.
* Currency: The official currency is the CFP Franc (XPF), not the Euro, though it has a fixed exchange rate with the Euro. This adds a conversion step for users on platforms trading primarily in EUR or USD.
* Consumer Warnings: The IEOM is active in warning the public about cryptocurrency volatility and the importance of using regulated entities.
Full Analysis Report
Full Analysis Report
New Caledonia, as a sui generis collectivity of France, operates under a unique regulatory blend where local autonomy exists alongside the extension of key French financial laws. The retail trading of cryptocurrencies is 'Allowed-Regulated' because the French 'Loi PACTE' framework was explicitly extended to the territory via Ordonnance n° 2019-741 in July 2019. This extension means that the regime for Digital Asset Service Providers (PSAN) applies fully: any entity providing custody of digital assets or exchanging digital assets for legal tender in New Caledonia must be registered with the Autorité des marchés financiers (AMF) in France.
The Institut d'Émission d'Outre-Mer (IEOM), acting as the central bank for the Pacific territories, plays a crucial role in local oversight. In January 2024, the IEOM issued a specific warning to investors, reiterating that crypto-assets are not legal tender (unlike the Euro or CFP Franc) and urging residents to consult the AMF's 'white list' of authorized PSANs before investing. This confirms that the French regulatory list is the definitive standard for legality in the territory.
From a taxation perspective, New Caledonia exercises fiscal autonomy, resulting in a distinct and currently more favorable environment for individual investors compared to mainland France. According to local legal analysis, the New Caledonian tax code does not currently tax 'occasional' capital gains on movable property for individuals. Consequently, retail investors who buy and sell crypto sporadically are exempt from capital gains tax. However, if the activity is deemed 'habitual,' it is reclassified as a professional commercial activity and taxed under the standard income tax regime.
Market participants should be aware that while the legal framework is robust, the practical ecosystem is still developing. Most compliant services available to residents are French or international platforms that have secured AMF registration. The local banking sector, supervised by the IEOM, adheres to strict AML/CFT compliance, meaning that transfers to unregistered or 'high-risk' crypto exchanges may face scrutiny or blockage.
New Caledonia, as a sui generis collectivity of France, operates under a unique regulatory blend where local autonomy exists alongside the extension of key French financial laws. The retail trading of cryptocurrencies is 'Allowed-Regulated' because the French 'Loi PACTE' framework was explicitly extended to the territory via Ordonnance n° 2019-741 in July 2019. This extension means that the regime for Digital Asset Service Providers (PSAN) applies fully: any entity providing custody of digital assets or exchanging digital assets for legal tender in New Caledonia must be registered with the Autorité des marchés financiers (AMF) in France. The Institut d'Émission d'Outre-Mer (IEOM), acting as the central bank for the Pacific territories, plays a crucial role in local oversight. In January 2024, the IEOM issued a specific warning to investors, reiterating that crypto-assets are not legal tender (unlike the Euro or CFP Franc) and urging residents to consult the AMF's 'white list' of authorized PSANs before investing. This confirms that the French regulatory list is the definitive standard for legality in the territory. From a taxation perspective, New Caledonia exercises fiscal autonomy, resulting in a distinct and currently more favorable environment for individual investors compared to mainland France. According to local legal analysis, the New Caledonian tax code does not currently tax 'occasional' capital gains on movable property for individuals. Consequently, retail investors who buy and sell crypto sporadically are exempt from capital gains tax. However, if the activity is deemed 'habitual,' it is reclassified as a professional commercial activity and taxed under the standard income tax regime. Market participants should be aware that while the legal framework is robust, the practical ecosystem is still developing. Most compliant services available to residents are French or international platforms that have secured AMF registration. The local banking sector, supervised by the IEOM, adheres to strict AML/CFT compliance, meaning that transfers to unregistered or 'high-risk' crypto exchanges may face scrutiny or blockage.
Source Evidence
Primary and secondary sources cited in this analysis
"L'ordonnance n° 2019-741 du 17 juillet 2019 étend en Nouvelle-Calédonie... diverses dispositions du Code monétaire et financier issues de la loi n° 2019-486... (PACTE)"
"Assurez-vous que l'intermédiaire... est autorisé à le faire. Pour cela, consultez la liste des prestataires de services sur actifs numériques habilités par l'Autorité des Marchés Financiers"
"Instaure un cadre pour... les prestataires de services sur actifs numériques (PSAN)."
"Il n'existe pas à ce jour en Nouvelle-Calédonie d'imposition sur la plus-value mobilière réalisée de manière occasionnelle par les particuliers."
Web Sources (1)
Sources discovered via web search grounding
Search queries used (10)
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- "Loi PACTE" applicable Nouvelle-Calédonie
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- Loi PACTE extension Nouvelle-Calédonie crypto
https://www.lexisveille.fr/loi-pacte-extension-en-nouvelle-caledonie-en-polynesie-francaise-et-dans-les-iles-wallis-et-futuna