The French National Assembly's Finance Committee recently reviewed amendment I-CF821, which proposes mandatory reporting for self-custody crypto wallets holding assets valued at €100 000 or more at the end of the calendar year. Failure to comply could result in fines reaching €10 000.
The proposal aims to address concerns regarding the underestimation of crypto ownership and potential fraud. However, the committee ultimately rejected the entire revenue section of the budget by a vote of 31 to 3. As a result, the current legislative text does not include these crypto-related requirements.
Industry figures have expressed significant security concerns regarding the proposal, citing a history of targeted crypto-related crimes in France. These include the 2025 kidnapping of Ledger co-founder David Balland and an attempted kidnapping involving the family of The Sandbox co-founder Sébastien Borget.
Additional measures considered by the committee included treating crypto-to-stablecoin swaps as taxable sales starting in January 2027. The committee also discussed extending the national exit tax to households holding crypto assets worth more than €800 000.
The legislative process remains ongoing, as the full National Assembly will resume debates using the government's original text. Any reintroduction of these crypto amendments would require lawmakers to table them again during the upcoming parliamentary sessions.
