The French National Assembly has approved an amendment that would require taxpayers to report self-custodied cryptocurrency holdings worth at least €100,000 ($112,000) to tax authorities, as part of the country's 2027 Finance Bill. The amendment, adopted Tuesday in a 150-44 vote with eight abstentions, would use the value of holdings on Dec 31 of the relevant tax year.
The amendment, designated I-2701, would apply to self-custodied crypto assets, those held in personal wallets rather than on exchanges or custodial services. The threshold of €100,000 would be assessed annually.
The National Assembly faces a Nov 17 deadline to complete its first reading. Senate debate is scheduled to begin Nov 20, according to the parliamentary calendar.
Separately, the Assembly rejected an amendment that would have exempted gains on crypto payments for goods and services from tax if the total payments did not exceed €1,000 ($1,120) during the tax year. That proposal was defeated 69-14.
Lawmakers also approved an amendment on Oct 16 that would tax gains from converting crypto into stablecoins classified as electronic money tokens under EU rules. That provision too would need to survive the final budget process.
On Friday, the Assembly rejected two proposals that would have applied exit taxes to unrealized crypto gains when taxpayers moved their tax residence abroad.
The Assembly postponed Tuesday's scheduled vote on the budget's revenue section for the second time as lawmakers continued debating amendments. The vote was originally set for Oct 20.
Faustine Fleuret, global head of public affairs at lending protocol Morpho, said the postponement itself did not introduce a significant change, but the “likely rejection” of the revenue section could “result in the rejection of the entire bill in the National Assembly, including provisions adopted by way of amendments.”
Analysis
Why This Matters
- French taxpayers holding self-custodied crypto above €100,000 may face new reporting obligations, increasing compliance costs and tax scrutiny.
- The amendment signals France's intent to extend tax transparency rules to self-custodied assets, a growing area of regulatory focus.
- The outcome of the broader budget bill will determine whether these provisions take effect, making the next two weeks critical.
Background
France has been gradually tightening crypto tax rules. The 2027 Finance Bill is the vehicle for several crypto-related measures. The National Assembly's first reading must be completed by Nov 17, after which the Senate debates from Nov 20. The bill could still be amended or rejected before final passage.
What to Watch
- Whether the National Assembly completes its first reading by the Nov 17 deadline.
- The Senate's position on both the crypto reporting requirement and the stablecoin tax when debate begins Nov 20.
- The fate of the entire budget bill: if the revenue section is rejected, all crypto amendments could be lost.
Checked
12 claims in this story checked against 1 source: 11 supported.
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- SupportedThe French National Assembly approved a reporting requirement for self-custodied crypto holdings worth at least €100,000.Cointelegraph.com News: “The French National Assembly approved an amendment that would require taxpayers to report self-custodied crypto holdings totaling at least 100,000 euros ($112,000) to tax authorities.”
- SupportedThe measure is part of the 2027 Finance Bill and must be retained in the final legislation to become law.Cointelegraph.com News: “The reporting requirement forms part of the 2027 Finance Bill and would need to be retained in the final legislation to become law.”
- SupportedThe requirement covers holdings worth at least €100,000 ($112,000), reported to tax authorities.Cointelegraph.com News: “The French National Assembly approved an amendment that would require taxpayers to report self-custodied crypto holdings totaling at least 100,000 euros ($112,000) to tax authorities.”
- SupportedThe amendment was adopted Tuesday in a 150-44 vote, with eight abstentions.Cointelegraph.com News: “Amendment I-2701 was adopted on Tuesday in a 150–44 vote, with eight abstentions, according to the Assembly’s official voting record .”
- SupportedThe threshold would be assessed annually using the value on Dec. 31 of the relevant tax year.Cointelegraph.com News: “The threshold would be assessed on Dec. 31 of the relevant tax year.”
- Not in the sourcesSelf-custodied assets are those held in personal wallets rather than on exchanges or custodial services.Cointelegraph.com News: “The French National Assembly approved an amendment that would require taxpayers to report self-custodied crypto holdings totaling at least 100,000 euros ($112,000) to tax authorities.”
- SupportedThe Assembly faces a Nov. 17 deadline to complete its first reading of the bill.Cointelegraph.com News: “The Assembly faces a Nov. 17 deadline to complete its first reading of the bill.”
- SupportedThe Assembly rejected a proposal to exempt qualifying crypto-payment gains from tax; the proposal was defeated 69-14.Cointelegraph.com News: “Separately, the Assembly rejected an amendment that would have exempted gains on crypto payments for goods and services from tax if the payments totaled no more than 1,000 euros ($1,120) during the tax year. The proposal was defeated 69–14, according to the Assembly’s transcript .”
- SupportedOn Oct. 16, lawmakers approved an amendment to tax gains from converting crypto into stablecoins classified as electronic money tokens under EU rules.Cointelegraph.com News: “Lawmakers also approved an amendment on Oct. 16 that would tax gains from converting crypto into stablecoins . The proposal covers stablecoins classified as electronic money tokens under EU rules”
- SupportedOn Friday, the Assembly rejected two proposals for exit taxes on unrealized crypto gains when taxpayers moved their tax residence abroad.Cointelegraph.com News: “On Friday, the Assembly rejected two proposals that would have applied exit taxes to unrealized crypto gains when taxpayers transferred their tax residence abroad.”
- SupportedThe Assembly postponed Tuesday’s scheduled vote on the budget’s revenue section for the second time; the vote was originally set for Oct. 20.Cointelegraph.com News: “The National Assembly postponed Tuesday’s scheduled vote on the budget’s revenue section for the second time as lawmakers continued debating amendments. The vote was originally scheduled for Oct. 20.”
- SupportedFaustine Fleuret said the postponement itself did not introduce a significant change, but a “likely rejection” could “result in the rejection of the entire bill in the National Assembly, including provisions adopted by way of amendments.”Cointelegraph.com News: “The vote’s postponement itself does not introduce a significant change, but the “likely rejection” of the budget’s revenue section could “result in the rejection of the entire bill in the National Assembly, including provisions adopted by way of amendments,” Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph.”
