The French National Assembly has approved an amendment requiring taxpayers to report self-custodied cryptocurrency holdings worth at least 100,000 euros ($112,000) to tax authorities. Amendment I-2701 passed on Tuesday with a vote of 150-44, with eight abstentions. The threshold will be assessed on December 31 of each tax year.
The Assembly also rejected an amendment that would have exempted gains on crypto payments for goods and services from tax if the payments totaled no more than 1,000 euros ($1,120) during the tax year. The proposal was defeated 69-14.
The reporting requirement is part of the 2027 Finance Bill and must be retained in the final legislation to become law. The Assembly has until November 17 to complete its first reading of the bill, with Senate debate scheduled to begin November 20.
Faustine Fleuret, global head of public affairs at lending protocol Morpho, noted that the postponement of the budget’s revenue section vote could result in the rejection of the entire bill, including the adopted amendments.
Additionally, the Assembly rejected two proposals that would have applied exit taxes to unrealized crypto gains when taxpayers transferred their tax residence abroad. On October 16, lawmakers approved an amendment to tax gains from converting crypto into stablecoins classified as electronic money tokens under EU rules.