France mandates reporting of large self-custodied crypto
7.3 Regulation France's Assembly approved a measure to require reporting of self-custodied crypto holdings over €100,000, pending final approval. A tax exemption for small crypto payments was rejected.
The French National Assembly has approved an amendment requiring taxpayers to report self-custodied cryptocurrency holdings valued at €100,000 or more as of December 31 of the tax year. Amendment I-2701 passed with 150 votes in favor, 44 against, and eight abstentions. This measure targets individuals managing their own crypto wallets, not those using third-party custodians, and is part of the 2027 Finance Bill. The proposal must still undergo further parliamentary debate and Senate scrutiny before becoming law. Lawmakers also rejected a separate proposal that would have exempted gains from crypto payments for goods and services from tax if the payments did not exceed €1,000 within a tax year. Additionally, an earlier amendment to tax gains realized when cryptocurrencies are converted into stablecoins was approved but still awaits final legislative adoption. The reporting requirement aims to enhance tax transparency and compliance for significant digital asset holdings in France.
