French Court Rejects Crypto Firms' Bid to Halt EU Tax Data-Sharing Rules

A French court has rejected an emergency bid by crypto firms Bull Bitcoin and Paymium to suspend enforcement of DAC8, the EU directive on sharing tax information tied to virtual assets.

The Court of State in France ruled that claims of a centralized tax database creating an immediate risk of hacking or physical crime did not meet the threshold for urgent suspension.

The court noted that a mere possibility or a very low-probability risk was insufficient to warrant such a suspension, clearing the way for DAC8's expansion of EU tax transparency to cover crypto assets.