French Parliament Passes Proposal for Crypto Wallet Declaration, Fines of Up to €10,000 for Holdings Exceeding €100,000
Prefer us on GoogleThe Finance Committee of the French National Assembly has approved an amendment numbered I-CF821, requiring holders of self-custodied crypto assets with a value of €100,000 or more to declare their holdings. The declaration value is based on December 31 of each year, and those who fail to comply may face fines of up to €10,000. The proposal was introduced by Charles de Courson, Jean-Pierre Bataille, and Michel Castellani, aiming to combat tax evasion. The amendment must be resubmitted and approved during the National Assembly's review of the budget revenue section to be incorporated into French law. The Finance Committee has rejected the revenue section of the 2027 budget proposal by a vote of 31 to 3, and lawmakers are expected to begin debating from the government's original draft on Tuesday.
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