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France advances crypto wallet disclosure rule for holdings above €100,000

France advances crypto wallet disclosure rule for holdings above €100,000

Rule Changes

Assembly backs €100,000 wallet reporting, then rejects budget revenue section, sending original text to Senate

7 days ago: Assembly rejects budget revenue section 458-0

Overview

Updated 5 days ago

France's National Assembly approved an amendment on Nov. 3 that would require people to report self-custodied crypto worth at least €100,000 to tax authorities. The rule would cover wallets where the owner holds the private keys, with a fine of up to €10,000 for failing to declare. It goes beyond the EU's DAC8 directive, which covers crypto service providers but not people who hold their own keys.

Lawmakers also adopted a measure on Oct. 16 making gains from crypto-to-stablecoin swaps taxable. The Assembly then rejected the 2027 budget's revenue section by 458 votes to 0 on Nov. 4, dropping the crypto amendments from the text sent to the Senate. The Senate is scheduled to begin debating the finance bill on Nov. 20, where the measures could be reintroduced; none is law yet.

Why it matters

If enacted, France would be among the first EU economies to force disclosure of self-custodied crypto, eroding the privacy that draws investors to personal wallets.

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Key Indicators

€100,000
Disclosure threshold
Combined value of self-custodied crypto holdings that would trigger annual reporting.
€10,000
Maximum fine
Penalty for failing to declare qualifying self-custodied holdings.
458-0
Assembly rejection vote
Vote rejecting the 2027 budget revenue section, which removed the crypto amendments from the text sent to the Senate.

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People Involved

Charles de Courson
Charles de Courson
Centrist MP, budget rapporteur general
Sponsored Amendment I-2701, which the Assembly adopted Nov. 3 before the budget rejection removed it
 Nicolas Sansu
Nicolas Sansu
Communist MP
Sponsored crypto exit tax and stablecoin amendments; the stablecoin tax was adopted Oct. 16 and later dropped with the budget rejection
 Jean-Pierre Bataille
Jean-Pierre Bataille
Centrist MP, LIOT group
Co-sponsored the wallet disclosure amendment
MC
Michel Castellani
Centrist MP, LIOT group
Co-sponsored the wallet disclosure amendment
PM
Paul Midy
EPR MP for Essonne
Opposed the €5,000 wallet disclosure threshold

Organizations Involved

NA
National Assembly Finance Committee
Parliamentary committee
Adopted the wallet disclosure amendment Oct. 9; the measure was re-tabled as I-2701 and adopted by the Assembly Nov. 3

The cross-party panel that vets budget bills before the full lower house debates them.
French National Assembly
French National Assembly
Lower house of parliament
Adopted the €100,000 wallet disclosure amendment Nov. 3, then rejected the budget revenue section 458-0 on Nov. 4

The lower house of the French parliament, which must pass the 2027 budget by December 10.

Timeline

January 2026 November 2026

9 events Latest: 7 days ago
Tap a bar to jump to that date

  1. Assembly rejects budget revenue section 458-0

    Latest Legislation

    The rejection removes the wallet disclosure, stablecoin tax and higher penalty amendments from the text sent to the Senate.

  2. Assembly adopts €100,000 wallet disclosure amendment

    Legislation

    Amendment I-2701 passes 150-44, requiring taxpayers to report self-custodied crypto worth at least €100,000 as of Dec. 31.

  3. Assembly rejects lower €5,000 wallet threshold

    Legislation

    Lawmakers vote down Amendment I-3922, which would have required reporting from €5,000, and a €50,000 fallback. They adopt the €100,000 version the same day.

  4. Assembly adopts stablecoin tax amendment

    Legislation

    Lawmakers approve an amendment making gains from crypto-to-stablecoin conversions taxable; it later falls with the budget revenue rejection.

  5. Full Assembly debate on budget revenue was scheduled to begin

    Legislation

    Lawmakers were scheduled to begin debating the revenue section on this date. The Assembly later adopted the wallet amendment on Nov. 3 and rejected the revenue section on Nov. 4.

  6. Reports detail the proposal and its uncertain path

    Publication

    News outlets report the committee's decision and the re-vote required for the measure to become law.

  7. Finance Committee adopts wallet disclosure amendment

    Legislation

    Committee backs Amendment I-CF821 requiring annual disclosure of self-custodied crypto wallets worth €100,000 or more.

  8. Committee rejects 2027 budget revenue section 31-3

    Legislation

    Rejection wipes out committee changes, forcing the crypto amendments to be re-tabled in the full Assembly.

  9. EU DAC8 crypto reporting directive takes effect

    Regulation

    EU directive requires crypto service providers to collect client data, with first reports due in 2027.

Scenarios

1

France enacts crypto wallet disclosure law

Possible Resolves by Dec 10, 2026

Discussed by: Cointelegraph, Euronews

The amendment is re-tabled when the full Assembly debates the budget revenue section starting October 13. It passes the Assembly and the Senate, and the 2027 budget is enacted with the wallet disclosure provision. The rule takes effect for the 2027 tax year, with first declarations due in 2028.

2

Budget rejection kills the crypto measures

Possible Resolves by Dec 10, 2026

Discussed by: Euronews

The revenue section is rejected again in the full Assembly, as happened last year when it was thrown out 404-1. The amendments die with it, and the government enacts the budget by ordinance without the crypto provisions.

3

Partial passage: wallet rule survives, exit tax dropped

Possible Resolves by Dec 10, 2026

Discussed by: Euronews

The wallet disclosure amendment passes but the exit tax and stablecoin measures fail. The Assembly keeps the reporting requirement while rejecting the broader crypto tax changes.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

March 2010

US FATCA (2010)

The US Foreign Account Tax Compliance Act required foreign financial institutions to report US account holders to the Internal Revenue Service. It forced banks worldwide to share account data or face penalties.

Then

Foreign banks signed agreements with the IRS and began reporting US account holders.

Now

FATCA set a template for automatic exchange of financial information, later adopted by the OECD's Common Reporting Standard.

Why this matters now

France's wallet rule applies the same logic to crypto: instead of relying on intermediaries to report, it makes the holder declare directly.

January 2026

EU DAC8 crypto reporting (2026)

The EU's DAC8 directive took effect, requiring crypto service providers to collect client data and report transactions, including some involving self-hosted wallets. First reports are due in 2027.

Then

Crypto exchanges and other service providers must now report customer holdings to tax authorities.

Now

DAC8 creates a baseline for crypto tax reporting across the EU, but member states can add stricter rules.

Why this matters now

France's wallet rule goes beyond DAC8 by targeting self-custodied wallets directly, where no intermediary exists to report.

Ongoing

French exit tax on equities (existing)

France taxes unrealized gains when residents who have lived in the country for at least six of the past ten years move abroad with shares and other securities worth more than €800,000.

Then

Wealthy investors moving abroad face a tax on paper gains, with payment deferred for moves within the EU.

Now

The mechanism is now being extended to crypto assets under the proposed amendment.

Why this matters now

The crypto exit tax amendment applies the same threshold and mechanism to digital assets, closing a gap where crypto escapes the levy.

Sources

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Cointelegraph Crypto Briefing Bitcoin Foundation The Clarity SpazioCrypto WEEX MABOnChain Altrookie Crypto Brief Euronews MarketPro Zelcore AIBC Cointelegraph CryptoReflex Journal du Coin Cointelegraph