France backs €100,000 self-custody crypto reporting proposal

France’s National Assembly has approved a proposal requiring taxpayers to declare self-custodied crypto holdings worth at least €100,000 at year-end, with penalties reaching €10,000, as lawmakers debate the country’s 2027 budget. Lawmakers approved Amendment I-2701 by 150 votes to 44, with eight abstentions on Nov. 3. The €100,000 threshold would apply to total qualifying holdings valued on Dec. 31. Government opposition focused on whether dishonest holders would comply with a self-reporting requirement. The proposal still needs to survive the remaining budget process before becoming law.

Source: crypto.news