The amendment concerns cryptoassets not held with CASPs
The French National Assembly’s Finance Committee adopted on Friday amendment I-CF821, which would introduce a reporting requirement for cryptoassets not held with a service provider, including those stored in personal wallets.
The text would add a provision to the French General Tax Code. Holders would have to declare assets that, as of 31 December, reach or exceed €100,000. Failure to declare could result in a penalty of up to €10,000.
The amendment was introduced by MPs Charles de Courson, Jean-Pierre Bataille and Michel Castellani, members of the LIOT parliamentary group. Its sponsors cited efforts to combat tax evasion, referring to a parliamentary inquiry according to which capital gains on cryptoassets reached €3.5 billion in 2021, while €400 million in cryptoassets had been declared to tax authorities.
The wallet requirement is among five amendments on cryptoassets adopted by the Committee. The Committee subsequently rejected the revenue section of the 2027 budget bill, by 31 votes to 3. The National Assembly is expected to begin examining the revenue section on Tuesday, starting from the government’s original text. The amendments will need to be reintroduced and approved during the parliamentary process to become law.
