France advances amendment on reporting self-custodied crypto over €100K
A French amendment would require taxpayers to declare self-custodied crypto holdings worth at least €100,000, though it still has to clear the budget process.
French lawmakers have backed an amendment that would oblige taxpayers to report cryptocurrency held outside regulated platforms when the holdings reach a certain value, according to Cointelegraph. The threshold is set at €100,000, or roughly $112,000 at the time of reporting.
The measure targets self-custodied assets — coins and tokens held in wallets the user controls directly rather than on an exchange. Under the proposal, holders above the threshold would face a disclosure requirement to tax authorities.
Still part of a wider budget fight
The amendment is attached to France's budget legislation, meaning it is not yet final. It must survive the remainder of the budget process before it can take effect, leaving scope for revision or removal as the text moves through parliamentary stages.
Self-custody reporting rules have drawn attention from policymakers internationally as they look to bring off-exchange holdings into existing tax compliance frameworks. How such requirements are enforced in practice — particularly the valuation and proof-of-holding mechanics — remains an open question in most jurisdictions that have considered them.
For now, the French proposal remains a legislative step rather than an enforceable obligation, and its final scope will depend on the outcome of the budget negotiations.