France Faces $9.4B Crypto Tax Scrutiny Under DAC8 and CARF

France's crypto market is expected to face significant scrutiny as it prepares to receive detailed customer and transaction data under the European Union's DAC8 tax reporting system and the OECD's Crypto-Asset Reporting Framework (CARF). According to Chainalysis, France generated approximately $9.4 billion in potentially taxable crypto activity during 2025, ranking it among the world's 15 largest markets.

The estimate includes $1.7 billion in crypto income, $2.5 billion in realized gains, and $5.2 billion in crypto payments. Chainalysis noted that this figure represents 'potentially taxable activity,' rather than unpaid taxes or government revenue, as tax treatment varies by transaction type, taxpayer status, and national law.

While the report does not estimate that more than 90% of French crypto taxes went unpaid, it does reference a Swedish tax authority study that found non-compliance rates above 90%. Chainalysis emphasized that applying this rate directly to France would not be supported by available evidence.