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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.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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