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<p style="text-align: justify">The French National Assembly has passed a measure that would require taxpayers to declare self-custodied cryptocurrency holdings when their value reaches or exceeds €100,000 ($112,000). Lawmakers adopted Amendment I-2701 with 150 votes in favor and 44 opposed, while eight abstained. The threshold for the declaration will be determined based on each taxpayer’s crypto assets as of December 31 of the relevant tax year.</p>
<h2 id="key-provisions-and-legislative-process">Key provisions and legislative process</h2>
<p style="text-align: justify">This amendment forms part of the broader 2027 Finance Bill, which is still under debate and must remain in the final legislation for these requirements to become legally binding. The National Assembly must complete its first reading of the bill by November 17, with the Senate scheduled to begin deliberations on November 20.</p>
<p style="text-align: justify">In Tuesday’s session, the Assembly also rejected a separate proposal that would have offered tax exemptions for gains made from crypto payments used for goods and services, provided these payments did not exceed €1,000 ($1,120) within a tax year. That amendment was defeated by a 69–14 vote.</p>
<p style="text-align: justify">Earlier, on October 16, lawmakers approved another significant amendment to tax gains realized when cryptocurrencies are converted into stablecoins. This measure applies specifically to stablecoins defined as electronic money tokens under European Union regulations and, like the self-custody requirement, still needs to be finalized in the adopted law.</p>
<h2 id="implications-and-ongoing-debate">Implications and ongoing debate</h2>
<p style="text-align: justify">The Assembly postponed a scheduled vote on the revenue section of the budget for the second time, pushing back a decision originally set for October 20. Continued debate over budget amendments has delayed progress, with concerns emerging about the overall fate of the finance bill.</p>
<p style="text-align: justify">Faustine Fleuret, global head of public affairs at Morpho, a lending protocol, commented on the political uncertainty. She explained that an expected rejection of the budget’s revenue section could jeopardize the entire bill, potentially eliminating provisions already adopted through amendments.</p>
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 <p>Faustine Fleuret highlighted that a likely rejection of the revenue section could lead to the entire finance bill failing in the National Assembly, which would remove all provisions approved by amendments up to this point.</p>
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<p style="text-align: justify">Last week, the Assembly dismissed two additional proposals that would have introduced exit taxes on unrealized cryptocurrency gains for those relocating their tax residence abroad.</p>
<h2 id="additional-measures-and-sector-impact">Additional measures and sector impact</h2>
<p style="text-align: justify">This series of votes reveals France’s efforts to increase regulatory oversight of digital assets, particularly regarding tax compliance for high-value cryptocurrency holdings and transactions. The rejected exemption for crypto payments in small amounts and stricter scrutiny of stablecoin conversions reflect lawmakers’ focus on comprehensive coverage of the sector.</p>
<p style="text-align: justify">As large crypto holders in France monitor new policy developments, the need for effective tracking tools has become clear. <a href="https://lk.software/cryptoappsy/" rel="noopener noreferrer nofollow">CryptoAppsy</a>’s real-time portfolio view allows users to closely follow the value of their self-custodied holdings and receive instant notifications if their assets approach significant reporting thresholds. This feature can help individuals ensure compliance with evolving tax regulations as the legislation moves forward.</p>
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 <p>Lawmakers adopted the self-custody reporting measure as part of a broader strategy to align with EU standards and reduce tax evasion involving digital assets.</p>
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<p>The post <a href="https://en.coin-turk.com/french-national-assembly-approves-crypto-self-custody-reporting-over-e100000/" rel="noopener noreferrer nofollow">French National Assembly approves crypto self-custody reporting over €100,000</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

French National Assembly approves crypto self-custody reporting over €100,000

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