France Lawmakers Back $112K Crypto Wallet Disclosure Proposal
Sponsors said the rule targets tax evasion after a parliamentary inquiry found €3.5 billion in crypto capital gains in 2021.
- On Friday, the French National Assembly's Finance Committee adopted amendment I-CF821, requiring individuals to report self-custodied cryptocurrency holdings valued at or above €100,000 .
- Data from a parliamentary inquiry prompted the move, showing that in 2021, cryptocurrency capital gains reached €3.5 billion while taxpayers declared only €400 million in holdings.
- The measure mandates that holders disclose asset values as of December 31 each year, and failing to submit the required declaration could result in a penalty reaching €10,000.
- Despite the amendment's passage, the Finance Committee subsequently rejected the entire revenue section of the government's proposed 2027 budget by a vote of 31 to 3.
- National Assembly lawmakers are scheduled to begin debating the revenue section of the budget on Tuesday, using the government's original draft as the starting point.
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France proposes €10,000 fines for undeclared self custody crypto holdings
French lawmakers have approved a proposal requiring individuals holding at least €100,000 ($112,000) in self custody cryptocurrencies to declare their assets to tax authorities or risk fines of up to €10,000. According to amendment I-CF821, adopted by the French National…
French MPs have supported a package of revolutionary amendments to the 2027 budget law that directly target...
An amendment approved by the Finance Committee of the French National Assembly proposes that taxpayers declare their cryptocurrencies in self-security when their value reaches €100,000. The initiative provides fines of up to €10,000, but still has to pass new parliamentary stages to be incorporated into the budget of 2027.
Crypto Breaking News
France Moves Ahead With Mandatory Crypto Wallet Reporting for €100K+
French lawmakers have moved to tighten oversight of self-custodied cryptocurrency holdings, backing an amendment that would force individuals to report crypto assets worth at least 100,000 euros or risk penalties. The proposal—numbered I-CF821—was adopted by the National Assembly’s Finance Committee on Friday. It targets crypto held outside regulated crypto-asset service providers, including assets stored in [...]
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