Crypto-assets, NFTs and tokenisation: French accounting under ANC 2026
A practical guide to French accounting for crypto-assets after the 2026 ANC regulations, covering treasury, NFTs, tokenisation and MiCA.
Expert note: This article was written by our chartered accountancy firm. Information is current as of 2026. For a personalised review of your situation, contact us.
Holding bitcoin in treasury, receiving a utility NFT, issuing a token or tokenising a right is no longer marginal. ANC regulations adopted on 9 January 2026 integrate crypto-assets into French accounting standards and require companies to document intent, classification, valuation, custody and notes disclosures.
Executive Summary#
Accounting treatment depends on intent and attached rights: held asset, trading asset, right over goods or services, assimilated instrument or third-party custody. Management must organise evidence: wallet, custodian, keys, transaction history, valuation method, impairment, cut-off and separation between company and client assets.
Decision Matrix#
| Leadership situation | Working option | Control point |
|---|---|---|
| Crypto held as own treasury | PCG classification and tracking | Intent, value, impairment and notes |
| NFT gives a service or asset right | Analyse attached rights | Amortisable or not, use and documentation |
| Token issued by the company | Legal and accounting analysis before issuance | Debt, revenue, obligation or equity |
| Custody for third parties | Stronger internal control | Segregation, mandate, evidence and MiCA/PSCA |
Control Points to Document#
- Inventory of wallets, platforms, keys and access owners.
- Accounting policy: holding intent, cost method, impairment and market value.
- Evidence: hashes, platform statements, dated screenshots, exports and reconciliations.
- Internal controls: dual approval, custody and company/client segregation.
- Notes: quantity, value, method and pledged assets where relevant.
Operational Example#
Illustration: a French SAS buys EUR 50,000 of crypto-assets to diversify treasury. Accounting is not only a bank entry. The company must identify the wallet, evidence price, track movements, document intent and test impairment. Pledged assets need separate monitoring.
Our Chartered Accountant's View#
We prioritise traceability. Reliable crypto accounting requires usable exports, wallet-to-accounting reconciliation, cut-off policy and key governance. Without that, the main risk is not volatility; it is inability to prove existence and ownership.
The Underestimated Risk#
The underestimated risk is confusing company assets with client assets. For custody, staking, tokenisation or mandate situations, the company must show what it controls and what it holds for others.
What Leadership Must Decide#
- Decide whether the company is allowed to hold crypto-assets.
- Select providers considering MiCA, PSAN/PSCA and security.
- Formalise accounting policy and valuation method.
- Implement monthly reconciliation between wallet, platform and accounts.
- Prepare notes disclosures and closing evidence.
2026 Watchpoints#
- ANC regulations 2026-01 and 2026-02 were published by ANC and must be monitored through homologation and application.
- AMF reminds that the MiCA transitional period for PSAN ends on 1 July 2026.
- Market valuation should be sourced and time-stamped.
- Tokenisation may represent very different rights: asset, service, debt, access or governance.
Useful Internal Links#
- contribution of cryptocurrencies to a company
- corporate treasury management
- corporate treasury investment
- cash-flow internal controls
- Pennylane accounting follow-up
- contribution auditor in France
- crypto-asset accounting support
- digital finance transformation
- technology and innovation companies
- Pennylane accounting platform
Frequently asked questions
Can a French company hold crypto-assets in treasury?+
Yes, but it must document the decision, custody, valuation, movements, risks and accounting treatment. It is not a simple bank line.
Are all NFTs accounted for in the same way?+
No. Attached rights must be analysed: usage right, intangible asset, service access, held asset or assimilated item.
What changes with ANC in 2026?+
ANC regulations 2026-01 and 2026-02 modernise crypto-asset accounting in French standards. Companies must monitor application timing and comments.
What is the main internal control?+
Evidence of existence and control: who holds keys, how access is approved and how transactions are reconciled with accounting.
Does MiCA matter for a company only holding crypto?+
MiCA mainly targets service providers and certain issuances. A holder should still choose providers carefully and understand market requirements.
Official Sources Used#
- ANC - Règlements ANC 2026-01 et 2026-02 sur les crypto-actifs
- ANC - Recueil des normes comptables françaises
- AMF - Fin de période transitoire PSAN sous MiCA au 1er juillet 2026
- AMF - MiCA et compétences des PSCA
Freshness note: Current as of 3 May 2026.
Article written by Samuel HAYOT
Chartered Accountant, registered with the Institute of Chartered Accountants.
Regulated French accounting and audit firm based in Paris 8, built to support companies across France with a digital and decision-oriented approach.
Sources
Official and operational sources cited for this page.
This topic is part of our service Contribution auditor in France | Valuation report
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