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

Overview

Updated 1 hour ago

France's National Assembly finance committee backed a rule that would force anyone holding €100,000 or more in self-custodied crypto to declare it to tax authorities each year. Fines for failing to do so could reach €10,000. The measure targets wallets where the owner controls the private keys—holdings that sit outside the reporting systems that apply to exchanges.

The proposal is not law yet. The same committee rejected the revenue section of the 2027 budget bill by a 31-3 vote, which means the crypto amendments must be re-tabled when the full Assembly debates the budget starting October 13. The measure is part of a broader EU push: the DAC8 directive took effect January 2026, bringing crypto into the same tax and anti-money-laundering reporting as traditional finance.

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.

Questions about this story

Free account needed to ask — your question is kept and asked for you right after sign-up. Answers are public.

No questions yet — be the first to ask.

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.

31-3

Budget revenue vote

Finance Committee vote rejecting the 2027 budget revenue section, forcing re-tabling of amendments.

40+

Crypto-linked kidnappings

Kidnappings in France between January and mid-April 2026, cited by critics of the reporting rule.

Voices

Curated perspectives — historical figures and your fellow readers.

Ever wondered what historical figures would say about today's headlines?

People Involved

Charles de Courson

Centrist MP, budget rapporteur general

Sponsored the wallet disclosure amendment

Nicolas Sansu

Communist MP

Sponsored exit tax and stablecoin amendments

Organizations Involved

National Assembly Finance Committee

Parliamentary committee

Adopted the wallet disclosure amendment, rejected budget revenue section

The cross-party panel that vets budget bills before the full lower house debates them.

French National Assembly

Lower house of parliament

Scheduled to debate budget revenue section starting October 13

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

Timeline

January 2026 October 2026

5 events Latest: Today

Tap a bar to jump to that date

October 2026
Full Assembly debate on budget revenue scheduled
Upcoming Legislation

Lawmakers begin debating the revenue section, where the crypto amendments must be re-tabled.
Tomorrow
Reports detail the proposal and its uncertain path
Today Publication

News outlets report the committee's decision and the re-vote required for the measure to become law.
Today
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.
3 days ago
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.
3 days ago
January 2026
EU DAC8 crypto reporting directive takes effect
Regulation

EU directive requires crypto service providers to collect client data, with first reports due in 2027.
January 1st, 2026

Scenarios

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.

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.

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.