French lawmakers have advanced a proposal requiring individuals with self-custodied cryptocurrency holdings of €100,000 or more to declare them to tax authorities. As of early October 2026, the National Assembly’s Finance Committee adopted Amendment I-CF821 on October 9. Failure to declare could result in fines of up to €10,000. The measure targets assets held outside regulated crypto-asset service providers, including personal wallets.
Under the amendment, eligible holders would report the value of their self-custodied crypto portfolios as of December 31 each year. The proposal would add a new provision to France’s general tax code. Sponsors Charles de Courson, Jean-Pierre Bataille, and Michel Castellani of the LIOT parliamentary group introduced it as part of 2027 budget discussions. The measure is not yet law.
The Drivers of the Current Situation
The main driver is concern over tax gaps in self-custody holdings. Lawmakers cited a parliamentary inquiry showing crypto capital gains of about €3.5 billion in 2021 against only €400 million in declared holdings that year. Regulated service providers already face reporting rules, while self-custodied wallets have largely remained outside automatic disclosure.
The Finance Committee adopted the amendment along with other crypto-related measures. However, the same evening it rejected the entire revenue section of the 2027 draft budget. As a result, the proposal must be reintroduced and re-voted in the full National Assembly (debate scheduled to begin around October 13) and later considered by the Senate. Exact implementation details, valuation methods, and effective date remain subject to further parliamentary process.
A full obligation would apply only to holdings reaching the €100,000 threshold. Holdings below that level and assets held with regulated providers fall outside the proposed new rule. Existing requirements for foreign accounts and capital-gains reporting continue separately.
Impact and Broader Context
Questions about expanding French crypto tax oversight keep growing. The proposal aims to close a reporting blind spot for high-value self-custody while setting a relatively high threshold. It also highlights the difference between regulated platforms and private wallets.
The issue drives debate on privacy, compliance burdens, and tax enforcement. It raises questions about practical valuation of multi-asset portfolios, interaction with existing foreign-account rules, potential effects on hardware-wallet users, enforcement mechanisms, and competitiveness relative to other EU countries. Sponsors emphasize reducing under-reporting among wealthier holders. Critics note the legislative hurdles and the need for clear guidance.
The committee vote marks an initial step rather than final law. Full Assembly votes, possible amendments, Senate review, or changes to the threshold and penalties will determine whether the reporting requirement and fines take effect.
This analysis uses reports of Amendment I-CF821, National Assembly Finance Committee actions on October 9, 2026, and related coverage of the 2027 budget process. The proposal’s final status remains subject to ongoing parliamentary debate and approval.