The French Senate has approved a bill enabling the automatic exchange of cryptocurrency tax data with international authorities. This legislation, currently designated as Bill no. 3421, has moved to the National Assembly for further review following its initial reading on Tuesday.
The proposed framework aligns with the Crypto-Asset Reporting Framework established by the OECD. It complements existing measures like the 2025 Finance Act, which integrated the EU's DAC8 directive. This directive mandates that crypto service providers disclose user identities and transaction details to tax regulators.
Legislators are also reviewing the 2027 budget, which includes a potential amendment to tax gains from conversions into specific fiat-pegged stablecoins starting January 1, 2027. A vote on the budget's revenue section is expected on November 3.
Industry experts have raised concerns regarding data security, noting that the European Commission intends to establish a central repository for crypto reports by the end of 2026. Critics warn that centralizing sensitive personal and financial data could create significant security vulnerabilities.
These security discussions occur amid a rise in physical attacks on crypto investors. Data from CertiK indicates that France recorded 33 out of 52 global wrench attacks during the first half of 2026, including a March incident involving the theft of approximately $1 million in Bitcoin.
