France’s National Assembly adopted an amendment requiring declaration of self-hosted crypto wallets worth €100,000 or more, with fines up to €10K for silence.
Key Facts
France’s National Assembly adopted an amendment Tuesday requiring holders of self-custodied crypto wallets worth €100,000 or more to declare them to tax authorities, with fines of up to €10,000 for failing to do so.
The measure, amendment I-2701 to the 2027 Finance Bill, adds the obligation to Article 1649 bis C of the General Tax Code, covering wallets not held with a crypto-asset service provider.
It revives a measure first adopted in committee on Oct. 9 under the same terms, which was nullified when the committee rejected the budget’s broader revenue section and had to be re-filed for the floor vote.
France’s National Assembly adopted an amendment Tuesday that would require holders of self-custodied crypto wallets worth €100,000 (roughly $112,200) or more to declare them to tax authorities, with fines of up to €10,000 ($11,200) for failing to do so.
What the Amendment Actually Requires
The measure, amendment I-2701 to the 2027 Finance Bill, was filed by Charles de Courson and six co-sponsors from the Libertés, Indépendants, Outre-mer et Territoires group. It adds a new paragraph to Article 1649 bis C of the General Tax Code, requiring anyone holding self-custodied crypto-asset wallets, meaning ones not held with a regulated crypto-asset service provider, to declare their value each Dec. 31 once it reaches €100,000.
A companion change to Article 1729 C ter extends that article’s existing penalty regime to cover non-declaration under the new provision. The explanatory text cites a parliamentary inquiry into wealth taxation that found French taxpayers declared only €400 million in crypto assets to the tax authority in 2021, against €3.5 billion in realized capital gains that year.
A Measure That Already Fell Once
The same proposal was adopted in committee on Oct. 9 under a different number, but was nullified when the finance committee rejected the budget’s overall revenue section, a procedural step that voids attached amendments. Tuesday’s floor vote refiled it with identical terms.
The provision specifically targets wallets such as hardware cold wallets and self-custody software wallets, distinct from the foreign-held crypto accounts French residents already report via form 3916-bis.
It arrives alongside other crypto provisions in the same budget bill, including a tax on crypto-to-stablecoin swaps the Assembly passed in October and a Senate-approved bill ratifying the OECD’s crypto reporting framework. The budget bill still requires full Assembly passage and Senate approval before taking effect.
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