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French Lawmakers Propose Disclosure for High-Value Crypto Wallets
On October 9, 2026, the Finance Committee of France's National Assembly advanced a proposal requiring individuals to declare self-custodied cryptocurrency wallets valued at €100,000 or more. This amendment aims to address a significant gap in tax reporting, as a parliamentary inquiry revealed that only €400 million of the €3.5 billion in crypto capital gains reported in 2021 was declared, leaving approximately €3.1 billion unaccounted for.
Under the proposed amendment, individuals holding self-custodied wallets that meet or exceed the €100,000 threshold as of December 31 would need to report these assets annually. Failure to comply could result in fines of up to €10,000. The proposal, known as Amendment I-CF821, was sponsored by deputies from the LIOT parliamentary group and is part of a broader package of fiscal reforms targeting digital assets.
While the proposal has advanced in committee, it is not yet law. On the same day, a related budget revenue section was rejected by a vote of 31-3, necessitating further debate in the full National Assembly, scheduled for October 13, 2026. This amendment follows a previous attempt earlier in 2026, which proposed a lower declaration threshold of €5,000 but was rejected due to security concerns and the desire to focus on larger holders.
Source: KLEA News