France moves to make crypto holders report their own wallets above €100,000, with fines of up to €10,000 for staying silent

French lawmakers want crypto held outside exchanges to show up on tax returns. An amendment to the 2027 budget bill, sponsored by centrist MP Charles de Courson with two colleagues, would oblige individuals and companies to declare self-custody wallets, those not held with a crypto service provider, when their combined value is €100,000 or more on December 31. The penalty for not declaring would be up to €10,000.

At present only crypto accounts held abroad must be reported, Euronews noted. The sponsors argue that holdings are widely under-declared, contrasting about €3.5 billion of crypto gains in 2021 with about €400 million in declared holdings. The measure covers disclosure only. It does not ban personal wallets or force anyone to move coins.

The National Assembly's finance committee backed the plan alongside other crypto tax changes, including an exit tax on crypto gains above €800,000. But on Friday the committee rejected the revenue part of the budget 31 votes to 3, so none of its amendments carry over. They must be tabled again from Tuesday, October 13. The full Assembly is due to vote on the revenue part on October 20 and on the whole bill on November 17, before the Senate takes it up.