France Backs €100K Self-Custody Crypto Reporting Proposal

France’s National Assembly approved Amendment I-2701 in a 150–44 vote, with eight abstentions, requiring taxpayers to report self-custodied crypto holdings worth at least €100,000 (about $112,000). The threshold would be measured on Dec. 31 of each tax year. The proposal was approved as part of the 2027 Finance Bill, meaning it must survive the remaining legislative process before becoming law.

Lawmakers separately rejected, 69–14, an amendment that would have exempted gains from crypto payments for goods and services when total payments did not exceed €1,000 ($1,120) in a tax year. The Assembly also backed an Oct. 16 amendment to tax gains from converting crypto into stablecoins classified as electronic money tokens under EU rules; that measure likewise remains subject to final approval.

The latest vote came after the Assembly postponed the budget’s revenue-section vote for a second time, following a planned Oct. 20 date. Faustine Fleuret, global head of public affairs at lending protocol Morpho, said a likely rejection of the revenue section could cause the entire bill to fail in the chamber, potentially eliminating provisions adopted through amendments. The Assembly has a Nov. 17 deadline to complete its first reading, while Senate debate is scheduled to begin Nov. 20.

France is also considering tighter crypto tax enforcement. Earlier, the Assembly rejected two amendments that would have imposed exit taxes on unrealized crypto gains when taxpayers moved their tax residence abroad. The self-custody reporting proposal therefore advances, but it is not yet final and could still be changed or removed during budget negotiations.