The French National Assembly’s Finance Committee has adopted an amendment requiring holders of self-custodied cryptocurrency to report assets valued at €100 000 or more. The proposal, designated as I-CF821, targets assets stored in personal wallets rather than those held by service providers.
Under the proposed rules, individuals must disclose their holdings based on the valuation as of December 31. Failure to comply with these reporting requirements could result in fines of up to €10 000. The measure aims to address tax evasion, following reports that only €400 million in crypto holdings were declared in 2021 despite capital gains reaching €3,5 billion.
The amendment was introduced by parliamentarians Charles de Courson, Jean-Pierre Bataille, and Michel Castellani. It is part of a broader set of five crypto-related proposals, which also include an exit tax for holdings exceeding €800 000 and the removal of tax deferrals for conversions into fiat-backed stablecoins.
Despite the committee's approval, the future of these measures remains uncertain. The Finance Committee recently rejected the revenue section of the 2027 budget bill. These amendments must be resubmitted and approved during upcoming parliamentary proceedings to be integrated into the final legislation.
