France Proposes €100,000 Reporting Threshold for Self-Custodied Crypto Holdings
French cryptocurrency holders could soon be required to declare self-custodied digital assets worth €100,000 or more under a proposed tax reporting measure added to the country’s 2027 finance bill. The requirement would cover crypto held in personal wallets rather than on cryptocurrency exchanges, with penalties of up to €10,000 for failing to comply.
The proposal is not yet law. France’s National Assembly voted 150 to 44 in favor of adding the measure to the 2027 finance bill, but the legislation must still pass through the Senate, which is scheduled to begin debating the bill on November 20.
Proposed Rules Target Assets Held in Personal Wallets
Under the proposed measure, French taxpayers would have to report qualifying cryptocurrency holdings stored in wallets they control themselves. The reporting threshold would apply when the total value of those assets reaches at least €100,000 on December 31.
The proposal specifically concerns self-custodied crypto, distinguishing assets held in personal wallets from those stored on exchanges. If adopted, holders meeting the threshold would be required to disclose their holdings as part of the reporting framework.
Failure to declare qualifying assets could result in fines of up to €10,000. The proposed penalty makes compliance a significant consideration for taxpayers whose cryptocurrency holdings meet or exceed the specified threshold.
Senate Debate Still Ahead
The National Assembly's 150-44 vote represents a step in the legislative process, but it does not mean the reporting requirement has become law. The measure remains part of the proposed 2027 finance bill and must proceed through further parliamentary consideration.
The Senate is expected to Coin Bureau start debating the bill on November 20. Its consideration will be an important next stage in determining whether the proposed disclosure requirement advances as part of France's 2027 budget legislation.
Lawmakers Reject Proposed Tax Exemption for Small Crypto Payments
The legislative debate also included a separate proposal concerning cryptocurrency payments. Lawmakers rejected an amendment that would have exempted crypto payments of up to €1,000 from tax.
The rejected proposal would have created a tax exemption for transactions below that amount. Its defeat means the suggested €1,000 exemption was not included through that amendment in the legislative process.
Both developments emerged during consideration of France's 2027 finance bill. While the proposed €100,000 reporting threshold for self-custodied holdings still awaits Senate debate, lawmakers have already rejected the proposed tax exemption for crypto payments of up to €1,000.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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