France backs €100,000 self-custody crypto reporting proposal

France’s National Assembly has approved a proposal requiring taxpayers to declare self-custodied crypto holdings worth at least €100,000 at year-end, with penalties reaching €10,000, as lawmakers debate the country’s 2027 budget. Summary Lawmakers approved Amendment I-2701 by 150 votes to 44, with eight abstentions on Nov. 3. The €100,000 threshold would apply to total qualifying holdings valued on Dec. 31. Government opposition focused on whether dishonest holders would comply with a self-reporting requirement. The proposal still needs to survive the remaining budget process before becoming law. According to the National Assembly’s amendment, the obligation would cover crypto held directly without a crypto-asset service provider. Charles de Courson, a member of the Liberties, Independents, Overseas and Territories parliamentary group, introduced the measure alongside six colleagues. The vote approved an amendment during the budget’s first reading. It did not complete passage of the Finance Bill, which still faces further parliamentary consideration, including Senate scrutiny. France’s crypto proposal uses a year-end threshold The text would insert the requirement into Article 1649...