French accounting for digital assets held by companies is governed by two opinions from the Autorité des normes comptables (ANC): ANC 2018-07 and its update ANC 2022-01. These texts introduced a classification framework that determines how each crypto asset is recorded, valued and taxed under the French corporate tax system (impôt sur les sociétés, IS).

For UK-based accountants advising French subsidiaries, branches or clients with French entities, understanding these rules matters from day one of a mandate. The French approach differs significantly from both UK GAAP and IFRS practice.

Direct answer. A French company holding, receiving or disposing of digital assets must classify each asset as an intangible fixed asset, stock or liquid equivalent under ANC guidance. Each transaction must be recorded in a chronological register with date, quantity, euro value, source of rate, blockchain hash and supporting document. Without this, any tax audit becomes a reconstruction exercise.

The ANC framework forces a classification decision at the time of acquisition, not at year-end.

The classification is not a one-off exercise. It should be documented in the company's accounting policies, reviewed at each year-end and consistent with how management actually uses the asset.

For French companies subject to IS, there is no flat tax equivalent for crypto assets. The 31.4% flat tax in 2026 (prélèvement forfaitaire unique, PFU — 12.8% income tax + 18.6% social levies after the 1.4-point CSG increase) under article 150 VH bis of the CGI applies exclusively to individuals. Companies follow the ordinary corporate tax rules.

The key consequences:

• Capital gains on fixed assets: taxed as professional gains, either short-term (taux ordinaire IS) or long-term (taux réduit 15%) depending on holding period and asset classification.
• Stock disposals: ordinary trading income or loss, fully integrated into taxable profit.
• Capital losses on long-term assets: can only be offset against long-term gains of the same nature, over a 10-year carry-forward period. They cannot reduce ordinary taxable profit.
• Impairment of crypto fixed assets: deductible if the conditions of French tax law are met (documented permanent loss of value).

Worked example. A French SAS acquired 50,000 EUR of Bitcoin recorded as an intangible fixed asset (compte 208) at a cost of 32,000 EUR. At year-end, market value is 55,000 EUR. No upward revaluation is permitted under the prudence principle. If the company sells in the following year for 58,000 EUR, the taxable gain is 26,000 EUR (58,000 – 32,000). If held for more than two years, the long-term rate of 15% may apply, subject to the company's overall tax position.

The exchange of crypto assets for legal tender is exempt from French VAT under article 261 C, 1°-e of the CGI, implementing EU law following the CJEU Hedqvist ruling (2015).

This exemption covers:

• buying and selling crypto for fiat currency;
• exchange between different crypto assets when acting as principal.

It does not cover:

• advisory, development or management services related to digital assets;
• mining when it constitutes an identifiable economic activity with a direct counterparty;
• custody services for third parties, depending on their structure.

For most companies holding crypto for their own account, VAT is not a primary concern. The issue arises when the company also offers crypto-related services: in that case, partial exemption (prorata TVA) or separate sector rules may apply.

The EU Markets in Crypto-Assets Regulation (MiCA, Regulation EU 2023/1114) has been fully applicable since 30 December 2024. For French companies:

• Stablecoins and e-money tokens are subject to a specific authorisation regime.
• Service providers (exchanges, custody, portfolio management on behalf of third parties) must obtain a PSCA licence from the AMF, replacing the former PSAN registration.
• Companies holding crypto for their own account are not subject to MiCA, provided they do not provide services to third parties.

Practical case. A French tech company accepting USDC payments from international clients and converting them to euros within a short period is not, in principle, a PSCA. If it begins managing wallets for clients or holding assets on behalf of others, AMF registration becomes mandatory. The line is operational, not legal.

Under French law implementing MiCA, PSCA obligations include:

• AML/CFT procedures and KYC requirements;
• transparency on fees, risks and governance;
• segregation of client assets;
• minimum capital requirements (for the full PSCA licence).

Operating as a de facto crypto service provider without AMF registration exposes the company to AMF sanctions and potential tax reclassification of income streams.

French companies do not use form 2042-C, which applies to individuals declaring crypto gains under article 150 VH bis CGI. For IS companies:

• Form 2065: the main IS return. Gains and losses on crypto assets are included in accounting profit, then adjusted in the tax computation.
• Table 2058-A: extra-accounting adjustments including long-term gains, provisions and impairments.
• FEC (Fichier des Écritures Comptables): in a tax audit, the administration requests the full accounting file in FEC format. Crypto transactions must appear in a traceable and consistent way.

French tax practice treats the absence of a proper crypto register as a significant audit risk. The register must record for each transaction:

• date and time;
• type (purchase, sale, exchange, payment received or made, contribution, mining);
• asset, quantity, counterparty;
• euro value at transaction date, source of exchange rate;
• blockchain hash and wallet or exchange identifier;
• supporting document reference.

A raw exchange export is a starting point, not a substitute.

• Confirm asset classification under ANC 2018-07 and ANC 2022-01.
• Verify whether AMF registration (PSAN/PSCA) is required.
• Assess whether the company needs a VAT sector analysis.
• Review the transaction register for completeness and FEC compatibility.
• Check the gain/loss schedule for correct short-term vs long-term treatment.
• Ensure founder personal assets are clearly separated from company assets.

Updated 25 May 2026. This article reflects French accounting and tax rules as of the date of publication. Rules in this area evolve rapidly. Any decision requires a case-specific review. This article does not constitute individual legal or tax advice.

This English section is written for international readers who need to apply the French guidance to a real management decision. The key point for accounting and taxation of crypto assets held by a French company is not to memorise every technical rule, but to connect the rule to documents, deadlines, cash impact and governance. For CFOs and accountants of French companies holding or transacting in crypto assets in 2026, the right approach is to identify the decision to be made, collect reliable evidence, and only then choose the accounting, tax, payroll or legal treatment.

The practical decision is which accounting treatment, valuation method and tax classification to apply by year-end. That decision should be documented before the year-end close, financing discussion, payroll run, transaction signing or tax filing concerned by the topic. When the matter is material, the file should include who decided, which assumptions were used, and which professional advice was obtained.

Evidence to keep#

• wallet inventory;
• transaction logs;
• valuation methodology memo;
• tax declaration file;
• internal control procedure;

Mixing personal and corporate wallets, or treating crypto as cash, creates serious tax and accounting exposure — segregation and documentation matter. A clean file also helps the company answer questions from banks, investors, auditors, tax authorities, employees or buyers. It is usually cheaper to prepare that evidence during the process than to reconstruct it after a dispute, audit or urgent financing request.

Management checklist#

Before acting, management should run a short checklist. First, confirm that the entity, period and perimeter are correct. Second, compare the accounting treatment with the tax, payroll or legal consequence. Third, quantify the cash effect, because a technically valid option may still be unsuitable if it creates a short-term liquidity issue. Fourth, make sure the decision can be explained in plain English to a shareholder, lender, employee or buyer who is not familiar with French terminology.

For French subsidiaries of foreign groups, translation is also a control topic. A term that sounds familiar in English may not have the same legal meaning in France. The safer method is to keep the French source wording in the working file, then add a short English management note explaining the decision, the financial effect and the residual risk.

How Hayot Expertise would frame the work#

In a professional review, the starting point is the business objective. Is the company trying to reduce risk, close the accounts, prepare a filing, obtain financing, retain employees, sell a business or improve reporting? Once the objective is clear, the technical analysis becomes more useful because it is attached to a concrete decision. Hayot Expertise would generally separate the work into three layers: compliance, numbers and management judgement.

The compliance layer answers whether a rule applies and which documents are required. The numbers layer measures the effect on profit, tax, payroll, cash, equity, valuation or working capital. The management layer decides whether the option is consistent with the company's strategy and risk appetite. This separation avoids a common mistake: treating a French technical rule as if it were only an administrative formality.

A fuller decision framework#

For a director who does not work daily with French accounting and tax rules, the safest framework is sequential. Start with the legal form and tax regime of the business. Then identify the income stream, expense, asset, employee benefit, transaction or reporting obligation concerned. Then test the accounting treatment, the tax treatment and the cash effect separately. Only after those three views are consistent should the company automate the process in accounting software or payroll.

This matters because French compliance is document-heavy. A bank feed, invoice, contract, payroll notice or tax form may each be correct on its own, while the overall file remains inconsistent. For example, the accounting entry may not match the tax return, the VAT position may not match the invoice wording, or the management report may not match the board minutes. English-speaking directors should therefore ask for a short reconciliation note whenever the amount is significant.

Questions to ask before closing the file#

• What is the exact French rule or accounting principle being applied?
• Which document proves the amount, date, counterparty and business purpose?
• Does the treatment affect VAT, corporate tax, income tax, payroll or social contributions?
• Is the cash impact immediate, deferred or only visible at sale, audit or financing?
• Who inside the company owns the update next year?

Why this improves SEO and real usefulness#

For an English reader, the value of this article is not a literal translation of the French version. It is the bridge between French terminology and management action. The content should help the reader understand what to verify, what to ask the accountant, and where the risk may sit in the financial statements or cash forecast. That is also the reason the English version keeps the French concepts visible while explaining them in operational language.

When to ask for help#

Professional input is useful when the topic changes the tax result, payroll cost, legal position, financing capacity, valuation or shareholder relationship. It is also useful when the company is growing quickly and the same decision will repeat every month. A small error in a one-off file is inconvenient; the same error embedded in a recurring workflow becomes expensive.