October 12th 2026, 7:35 AM
France Tries to Crack Down on Unreported Crypto Wealth
Key Summary
France is moving forward with a proposal to require individuals with self-custodied crypto wallets worth €100,000 or more to disclose their holdings, aiming to close a €3.1 billion gap in crypto capital gains reporting.
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Background
This is not France's first attempt at wallet disclosure. An earlier effort in 2026 proposed a declaration threshold of just €5,000. Lawmakers rejected it in April 2026.The Proposal
The new threshold is twenty times higher, reflecting recent security concerns tied to targeted attacks against crypto holders in France. Setting the bar at €100,000 narrows the pool to larger holders.Impact on Crypto Holders
For most French crypto users, the immediate impact is limited. The proposal isn't law, and the €100,000 threshold excludes smaller holders entirely.The Combination with Proposed Exit Tax
A holder who dislikes the new disclosure rules might consider moving abroad. If holdings exceed €800,000, the exit tax would make that move more expensive.Next Steps
The fate of the rejected budget revenue section will determine whether Amendment I-CF821 has a vehicle to ride on. Debate is scheduled to resume in the full National Assembly on October 13, 2026.#France#Crypto#TaxEvasion#Europe