The French Senate has adopted a bill authorising the automatic exchange of crypto-asset tax information between international tax authorities, sending it to the National Assembly for further legislative consideration.
The bill, designated as Bill 3421, passed its first reading on Tuesday and covers an agreement on exchanging crypto tax information based on the Organisation for Economic Co-operation and Development's Crypto-Asset Reporting Framework (CARF), as well as an update to an existing agreement on financial account data.
France already introduced crypto reporting obligations through the 2025 Finance Act, implementing the crypto reporting amendment to the European Union's Directive on Administrative Cooperation (DAC8). Those rules require crypto service providers to report customer identities and transaction data to tax authorities, which then share the information with authorities in users' EU countries of residence.
Separately, French lawmakers are debating crypto tax changes in the 2027 budget. The National Assembly adopted an amendment on Oct 16 that would make gains from conversions into certain fiat-pegged stablecoins taxable from Jan 1, 2027. The measure is not yet law; debate on the budget's revenue section resumed on Tuesday, with a vote scheduled for Nov 3.
Tax reporting under DAC8 raises data security concerns because it involves sharing personal information, including names, addresses, tax numbers and transaction volumes, between EU tax authorities. Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph: "In a country where crypto holders have been physically targeted, a leaked list of who trades what, and for how much, is not only a privacy issue but first and foremost a safety issue," Fleuret said.
The European Commission plans to create a central repository for crypto reports by the end of 2026. Each member state's tax authorities would be able to access information concerning its tax residents. Fleuret said centralising the information could create a "single point of failure" for sensitive data.
Physical attacks targeting cryptocurrency investors have risen. During the first half of 2026, France accounted for 33 of the 52 verified wrench attacks worldwide, according to blockchain security company CertiK. In March, a French couple in their late 50s was robbed of about $1 million worth of Bitcoin by criminals posing as police officers.
Analysis
Why This Matters
- France is a major EU economy, and its adoption of the OECD's CARF framework could influence how other jurisdictions implement automatic crypto data sharing.
- The data-sharing proposal has raised privacy and safety concerns, particularly given a sharp rise in physical attacks against crypto holders in France.
- The stablecoin tax amendment being debated in the 2027 budget would change the tax treatment of conversions into certain fiat-pegged tokens.
Background
France introduced crypto reporting obligations through its 2025 Finance Act, implementing the EU's DAC8 directive, which requires crypto service providers to report customer and transaction data to tax authorities for automatic exchange among member states. The new bill extends that framework internationally, based on the OECD's Crypto-Asset Reporting Framework (CARF). Lawmakers are also debating tax changes in the 2027 budget, including a proposal to tax gains from conversions into certain fiat-pegged stablecoins.
What to Watch
- The National Assembly's consideration of Bill 3421 and whether it is passed with amendments.
- The scheduled Nov 3 vote on the 2027 budget's revenue section, which includes the stablecoin tax amendment.
- Implementation of the EU's planned central crypto data repository by the end of 2026 and the security measures adopted around it.
Checked
12 claims in this story checked against 1 source: 12 supported.
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- SupportedThe French Senate adopted a bill authorising automatic exchange of crypto-asset tax information between international tax authorities.Cointelegraph.com News: “The French Senate adopted a bill authorizing the automatic exchange of crypto-asset tax information between international tax authorities, pending completion of the legislative process.”
- SupportedThe bill was transmitted to the National Assembly as Bill 3421 after passing its first reading on Tuesday.Cointelegraph.com News: “The bill passed its first reading on Tuesday and was then transmitted to the National Assembly as Bill no. 3421 for consideration.”
- SupportedThe bill covers a CARF-based crypto tax information agreement and an update to an existing agreement on financial account information.Cointelegraph.com News: “The bill covers an agreement on exchanging crypto tax information and an update to an existing agreement on financial account information. The crypto agreement is based on the Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD).”
- SupportedFrance introduced crypto reporting obligations through the 2025 Finance Act implementing DAC8, requiring providers to report customer identities and transaction data for sharing with tax authorities in users’ EU countries of residence.Cointelegraph.com News: “The rules require crypto service providers to report customer identities and transaction data to tax authorities, which share the information with authorities in users’ EU countries of residence.”
- SupportedThe National Assembly adopted an amendment on October 16 that would make gains from conversions into certain fiat-pegged stablecoins taxable from January 1, 2027.Cointelegraph.com News: “The National Assembly adopted an amendment on Oct. 16 that would make gains from conversions into certain fiat-pegged stablecoins taxable from Jan. 1, 2027.”
- SupportedThe stablecoin tax measure is not yet law.Cointelegraph.com News: “The measure is not law yet.”
- SupportedDebate on the budget’s revenue section resumed Tuesday, with a vote scheduled for November 3.Cointelegraph.com News: “Lawmakers resumed debate on the budget’s revenue section on Tuesday, with a vote scheduled for Nov. 3.”
- SupportedFleuret told Cointelegraph that a leaked list of crypto holders’ trading activity and amounts would be a safety issue as well as a privacy issue.Cointelegraph.com News: “Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph. “In a country where crypto holders have been physically targeted, a leaked list of who trades what, and for how much, is not only a privacy issue but first and foremost a safety issue.””
- SupportedThe European Commission plans a central repository for crypto reports by the end of 2026, accessible to member states’ tax authorities for information about their tax residents.Cointelegraph.com News: “The European Commission plans to create a central repository for crypto reports by the end of 2026. Each member state’s tax authorities would be able to access information concerning its tax residents.”
- SupportedFleuret said centralising the information could create a “single point of failure” for sensitive data.Cointelegraph.com News: “Fleuret said that centralizing this information could create a “single point of failure” for sensitive crypto transaction data.”
- SupportedFrance accounted for 33 of the 52 verified wrench attacks worldwide in the first half of 2026, according to CertiK.Cointelegraph.com News: “During the first half of 2026, France accounted for 33 of the 52 verified wrench attacks worldwide, according to blockchain security company CertiK.”
- SupportedIn March, a French couple in their late 50s was robbed of about $1 million worth of Bitcoin by criminals posing as police officers.Cointelegraph.com News: “In a March incident, a French couple in their late 50s was robbed of about $1 million worth of Bitcoin by criminals posing as police officers.”