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 150-44 vote, including 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 from crypto payments for goods and services under 1,000 euros ($1,120) from tax. The proposal was defeated 69-14.
The reporting requirement is part of the 2027 Finance Bill, which must be retained in the final legislation to become law. The Assembly has until November 17 to complete its first reading, with Senate debate scheduled to begin November 20.
Faustine Fleuret, global head of public affairs at lending protocol Morpho, warned that the likely rejection of the budget’s revenue section could result in the rejection of the entire bill, including adopted amendments.
Separately, the Assembly rejected proposals for exit taxes on unrealized crypto gains when taxpayers move abroad. On October 16, lawmakers approved an amendment to tax gains from converting crypto into stablecoins classified as electronic money tokens under EU rules.