French Committee Wants Reporting for Self-Custodied Crypto Above 100,000 Euros
The proposal goes beyond DAC8 and also affects personal wallets; the French tax authority wants to better track self-custodied holdings above the threshold.
Key Takeaways
- A French committee approved an amendment that would require reporting for self-custodied crypto above 100,000 euros.
- Anyone who does not report this crypto could face a fine of up to 10,000 euros; the proposal is not law yet.
- The measure is part of five crypto amendments and fits into broader European transparency rules.
A committee in the French National Assembly has approved an amendment that requires reporting for self-custodied crypto above 100,000 euros. Anyone who does not report it could face a fine of up to 10,000 euros. It is not law yet: the proposal still has to go through the full parliamentary process.
What the Amendment Does
It concerns amendment I-CF821, introduced by Charles de Courson, Jean-Pierre Bataille, and Michel Castellani of the LIOT parliamentary group. The text adds a provision to France's general tax code and targets crypto that is not held with a crypto-asset service provider. That means coins in a personal crypto wallet could also fall under the reporting requirement if their value is above the threshold on December 31.
The sponsors call the measure a tool against tax evasion. They pointed to a parliamentary study on taxing wealthy individuals, which mentioned 3.5 billion euros in crypto gains in 2021, while only 400 million euros in crypto holdings were reported to the tax authority that year.
More Crypto Amendments in the Budget
The wallet amendment is one of five crypto amendments approved by the finance committee during its review of the 2027 budget. According to earlier reporting, the other proposals include an exit tax on crypto holdings above 800,000 euros when moving abroad, and ending tax deferral when converting to fiat-backed stablecoins.
At the same time, the same committee rejected the revenue section of the budget bill itself by 31 votes to 3. The full debate on that revenue section begins Tuesday, October 13, in the National Assembly.
Why This Also Matters Outside France
For European crypto holders, this is especially relevant because France is going beyond reporting through exchanges alone. The EU rules around DAC8, which take effect on January 1, 2026, already require crypto-asset service providers to share user data with tax authorities. The OECD CARF framework also fits into that broader push for more transparency around crypto and taxation.
At the same time, the proposal shows that attention is shifting toward self-custodied holdings, where oversight is harder. For now, the question of how exactly the French tax authority would be able to monitor those assets remains open.
France is not the only country tightening the tax treatment of crypto. A separate proposal is also looking at taxing unrealized crypto gains for wealthy residents who leave the country, showing that pressure on large crypto positions is rising more broadly.
