#2026-420France sets rules for ownership transfer and pledges of digital assets
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This decree clarifies when ownership of digital assets legally transfers in France. For assets recorded directly on a distributed ledger, the transfer happens when the buyer’s entry becomes irreversible under the ledger’s consensus mechanism. For assets held through a digital asset service provider, it happens when the provider records the buyer’s position in its account register. It also sets the required contents for a pledge declaration over digital assets, including the parties’ details, wallet or account identifiers, the secured claim, and the assets covered. Businesses using crypto-assets as collateral will need clear records and, where automated smart-contract tools are used, technical safeguards for integrity, traceability, timestamping, and access to the relevant information.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Defines when ownership of digital assets transfers on a distributed ledger or through a digital asset service provider.
- Sets mandatory information for pledging digital assets as collateral.
- Requires technical safeguards when automated tools are used to sign pledge declarations or related notices.
Obligations
What this law requires
For digital assets recorded directly on a distributed ledger, treat the transfer of ownership as occurring only when the buyer’s ledger entry has become irreversible under the relevant distributed ledger’s consensus mechanism.
For digital assets held through a digital asset service provider, treat the transfer of ownership as occurring when the provider records the buyer’s position in its position register for the conserved assets.
Digital asset service providers conserving acquired assets must record the buyer’s position in their position register as quickly as possible after settlement of the transaction.
A declaration of pledge over digital assets must be titled “Déclaration de nantissement d'actifs numériques”.
A declaration of pledge over digital assets must state that it is subject to Article L. 226-5 and must include the date on which the pledge was signed.