French lawmakers back reporting rule for crypto holdings above €100,000

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French lawmakers have backed a proposal requiring holders of self-custodied crypto assets worth at least €100,000 ($112,000) to report their holdings to tax authorities.

The amendment was approved by the National Assembly’s Finance Committee and would apply to crypto held outside regulated crypto service providers, including assets stored in personal wallets.

Holdings would be valued on 31 December each year, with fines of up to €10,000 for failing to report. Sponsors said the measure aims to tackle tax evasion and pointed to the gap between crypto gains and declared holdings in France.

The proposal is part of a wider set of crypto-related amendments approved by the Finance Committee.