The French National Assembly has passed Amendment I-2701, requiring taxpayers to report crypto assets held in self-custodial, non-custodial wallets to tax authorities. The reporting requirement applies to wallet holders with an asset value of at least 100,000 euros, or approximately $112,000. The measure was approved in an official parliamentary vote with 150 votes in favor, 44 against, and 8 abstentions.
The reporting rule targets non-custodial wallets managed directly by users without crypto exchange intermediaries. The administrative oversight step follows regulatory shifts in parliament: lawmakers had previously rejected a proposed exit tax on unrealized capital gains, but earlier approved a tax on converting crypto assets into stablecoins.
Threshold Calculated at Year-End
The 100,000-euro threshold assessment features a specific calculation mechanism. Tax authorities will calculate a taxpayer’s total crypto asset holdings based on market value as of December 31 of the relevant tax year. Under this rule, mid-year price fluctuations will not trigger a reporting obligation if the balance on December 31 falls below 100,000 euros.
Crypto Spending Tax Relief Fails in Parliament
In contrast to the approved monitoring of large balances, parliament rejected a proposed incentive for daily transactions. In a separate vote, the National Assembly rejected a tax exemption clause for gains from purchasing goods and services with crypto up to 1,000 euros ($1,120) per year.
The rejection passed by a vote of 69 against to 14 in favor. This decision ensures that any capital gains on crypto spent on purchases remain subject to standard tax obligations without an annual exemption allowance.
Why the Rule’s Fate Remains Uncertain
The self-custody wallet reporting obligation was introduced into the 2027 Finance Bill. The provision currently stands as an amendment that must be retained in the final legislative text before officially becoming law.
Lawmakers face a tight legislative calendar. The National Assembly has until November 17 to complete the first reading of the Finance Bill, followed by debates in the Senate scheduled to begin on November 20, 2026.
Faustine Fleuret, a representative of DeFi lending protocol Morpho, noted political risks in the legislative process. Fleuret warned that repeated delays and potential rejection of the budget’s revenue section could trigger the rejection of the entire bill along with the amendments approved within it.
For crypto portfolio holders in France, the late November Senate debates will determine whether the self-custody wallet reporting requirement officially comes into force or falls alongside the budget draft.
Dilansir dari Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
