French Senate adopts bill for automatic sharing of crypto tax data

The French Senate adopted a bill to allow tax authorities to automatically exchange crypto transaction data with their foreign counterparts.The bill passed its first reading on Tuesday and was then transmitted to the National Assembly as Bill no. 3421 for consideration.The bill covers an agreement on exchanging crypto tax information and an update to an existing agreement on financial account information.The crypto agreement is based on the Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD). CARF sets common standards for participating jurisdictions to collect and automatically exchange information on crypto transactions.France already introduced crypto reporting obligations through the 2025 Finance Act, implementing the crypto reporting amendment to the European Union’s Directive on Administrative Cooperation, known as DAC8. The rules require crypto service providers to report customer identities and transaction data to tax authorities, which share the information with authorities in users’ EU countries of residence.French lawmakers are also debating crypto tax changes in the 2027 budget. The National Assembly ad...