France has proposed a new rule that would require people to report their personal cryptocurrency holdings worth €100,000 or more to tax authorities. Those who fail to do so could face fines of up to €10,000. The proposal was approved by the Finance Committee of France’s National Assembly, but it has not yet become law. If passed, people would have to declare the value of crypto assets held in their own wallets as of December 31 each year. The move aims to prevent tax evasion and improve reporting of cryptocurrency holdings.
Source: assemblee-nationale.fr
The proposal covers cryptocurrencies held in self-custody wallets, which are controlled directly by their owners rather than managed by a crypto exchange or service provider. This means people holding large amounts of crypto outside regulated platforms could also have to report their assets.
The amendment was introduced by lawmakers Charles de Courson, Jean-Pierre Bataille and Michel Castellani. They believe the rule is needed because some investors may be keeping their crypto holdings hidden from tax authorities.
A parliamentary inquiry found a large gap between crypto gains and the amounts reported for tax purposes. In 2021, crypto capital gains reached €3.5 billion, but only €400 million was declared, according to the inquiry. Lawmakers say better reporting could help authorities identify undeclared assets and tackle tax evasion.
⚖️ French committee backs disclosure of self-custody wallets over €100,000
The amendment, numbered I-CF821, passed the French Finance Committee on October 9. It would oblige people to disclose self-custody crypto wallets holding more than €100,000, and sets fines for those who fail to comply.
— Learning Crypto (@learningcrypto) October 11, 2026
Other proposed measures could also affect crypto investors. One proposal would introduce an exit tax on cryptocurrency holdings worth more than €800,000 when an investor moves abroad. Another would remove tax deferrals when cryptocurrencies are converted into stablecoins backed by traditional currencies.
However, these measures still face a long legislative process. Although the Finance Committee adopted the crypto reporting amendment, it later rejected the revenue section of the wider 2027 budget bill by 31 votes to three. Lawmakers must now debate the budget and decide which amendments should be included before the proposals can become law.
The debate comes as governments across the world seek greater transparency in cryptocurrency markets. Digital assets can be moved between wallets and across borders, making it harder for tax authorities to track some transactions.
If France approves the proposed rule, people with large self-held crypto investments may have to pay closer attention to their reporting duties. For now, the €100,000 disclosure requirement and the possible €10,000 fine remain proposals, not laws in force.
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