France’s National Assembly has approved an amendment requiring taxpayers to declare self-custodied cryptocurrency holdings worth €100,000 or more, advancing efforts to strengthen oversight of digital assets held outside centralized exchanges.
Lawmakers adopted amendment I-2701 on November 3, 2026, by 150 votes to 44, with eight abstentions. The measure forms part of France’s proposed 2027 Finance Bill and would introduce an annual reporting obligation for qualifying cryptocurrency holdings maintained in privately controlled wallets.
The threshold would be calculated using the total value of the relevant assets on December 31 of the reporting year. Failure to comply could result in penalties of up to €10,000 under the proposed framework. However, the amendment has not yet become law. It must remain in the final budget legislation following further parliamentary consideration.
The proposal reflects growing concern among French lawmakers about cryptocurrency holdings that may fall outside existing tax-reporting arrangements.
New Reporting Rules Target Self-Hosted Crypto Wallets
The amendment, introduced by lawmaker Charles de Courson, would modify Article 1649 bis C of France’s General Tax Code. It specifically addresses cryptocurrency wallets controlled directly by individuals or legal entities rather than held through registered crypto-asset service providers.
Under the proposed rules, taxpayers whose qualifying self-custodied holdings reach or exceed €100,000 would be required to notify French tax authorities. The obligation concerns disclosure of assets, not an automatic tax on the entire value of the holdings.
Lawmakers also considered alternative proposals setting reporting thresholds at €5,000 and €50,000. Both were rejected, leaving the €100,000 threshold as the approved amendment. Supporters argued that the measure would help authorities identify undeclared cryptocurrency wealth and reduce opportunities for tax evasion.
The amendment’s explanatory statement cited a substantial discrepancy between estimated cryptocurrency gains and amounts reported to French tax authorities. It referred to approximately €3.5 billion in cryptocurrency capital gains during 2021, compared with around €400 million declared to the tax administration.
Those figures were presented as justification for expanding reporting requirements rather than as evidence that all undeclared holdings involved wrongdoing. The amendment also extends an existing penalty provision to cover the new declaration requirement.
Proposal Must Survive Budget Process Before Taking Effect
Despite the National Assembly vote, the reporting requirement remains subject to France’s broader legislative process. The Assembly is expected to complete its first reading of the 2027 Finance Bill in November, followed by consideration in the Senate.
The measure could be modified, removed or retained during subsequent negotiations. Its precise implementation date and administrative reporting procedures have not yet been finalized. The proposal comes as European authorities expand cryptocurrency transparency requirements through the European Union’s eighth Directive on Administrative Cooperation, known as DAC8.
DAC8 establishes information-reporting obligations for crypto-asset service providers and supports the exchange of relevant tax information between EU member states. However, privately controlled wallets can present additional challenges because users may hold assets without relying on a centralized custodian.
France’s proposed amendment seeks to address that gap by placing a direct disclosure obligation on qualifying holders. For cryptocurrency investors, the distinction between custodial and self-custodial holdings is therefore significant.
If enacted, the measure would create additional compliance responsibilities for individuals and businesses maintaining substantial digital asset balances outside regulated platforms. It would not prohibit self-custody or require holders to transfer their cryptocurrency to centralized exchanges.
The final impact will depend on the legislation’s approved wording, reporting procedures and enforcement arrangements. For now, France has taken a parliamentary step toward broader cryptocurrency disclosure, but the proposed €100,000 reporting requirement is not yet legally enforceable.
