France panel backs $112k wallet reporting

TLDR

Frances National Assembly finance committee has backed a rule that would force self-custody crypto holders to report wallets above about $112,000, but it is not law yet.

1. Frances finance committee adopted amendment I?CF821, proposing annual reporting of self-custodied crypto worth at least 100,000 euros, with fines up to 10,000 euros for non?declaration.
2. The rule targets wealthy French residents using personal wallets, and sits alongside exit tax and stablecoin tax proposals that would tighten the high?end crypto tax regime.
3. The entire tax package, including wallet reporting, must be re?tabled and approved in upcoming budget votes, where privacy, safety and enforcement concerns may reshape the final rules.

Deep Dive

1. Committee Backs Wallet Rule

French lawmakers on the National Assemblys Finance Committee have adopted amendment I?CF821, which would require people to report self?custodied crypto holdings of at least 100,000 euros (about $112,000) each year. The rule covers assets not held by a licensed crypto?asset service provider, such as hardware or software personal wallets, with values measured on December 31 and penalties up to 10,000 euros for failing to declare. Sponsors say the goal is to combat tax evasion, pointing to inquiries that found billions of euros in crypto gains but far lower declared holdings in recent years, according to reports from Cointelegraph and CoinMarketCaps community coverage of the wallet disclosure proposal.

Confidence: high, because multiple independent outlets and parliamentary summaries describe the same amendment and threshold.

2. Who Would Be Affected

If enacted, the rule would primarily hit French residents with large self?custody positions who currently sit outside exchange reporting, effectively turning big personal wallets into a declared tax?relevant asset class. It arrives alongside proposals to extend Frances exit tax to crypto portfolios above 800,000 euros for people moving abroad and to tax crypto to fiat?backed stablecoin swaps, tightening treatment of high?value digital assets overall, as detailed in committee?backed crypto tax measures. Civil?liberties concerns are already visible, with critics warning that any registry of large self?custody wallets could become a target if data leaks, in a country that has seen documented kidnappings of wealthy crypto holders.

3. Key Dates And Open Questions

Procedurally, the wallet rule is still only a committee?level amendment. The finance committee later rejected the revenue section of the broader 2027 budget, so all crypto tax amendments must be resubmitted and passed in full?chamber debates before becoming law, as noted in parliamentary budget coverage. Key open questions include whether lawmakers keep the 100,000 euro threshold, how data would be stored and protected, and how Frances rules will mesh with EU?wide regimes like DAC8 that already push stronger reporting by service providers. For anyone affected, the decisive signals will be the next budget votes and any implementing decrees that flesh out enforcement.

Conclusion

France is moving toward tighter oversight of large self?custody crypto holdings, but the proposed 100,000 euro reporting rule is still in the legislative pipeline and may evolve. For crypto users, the important link is not short?term price impact but the longer shift toward treating sizable on?chain wealth like other declarable financial assets, with attendant tax, privacy and personal?security trade?offs that will depend on how the final law is written and implemented.