France’s National Assembly Finance Committee has approved amendment I-CF821, a proposal that would require holders of self-custodied crypto assets to disclose their positions if the value reaches or exceeds €100,000, or about $112,000. The valuation would be based on holdings as of Dec. 31 each year, and failure to report could lead to a fine of as much as €10,000. The amendment was introduced by Charles de Courson, Jean-Pierre Bataille and Michel Castellani, with the stated aim of combating tax evasion. It has not yet become law. The measure must still be resubmitted during the National Assembly’s review of the budget revenue section and win approval before it can be incorporated into French law. Cointelegraph also reported that after passing the amendment, the Finance Committee rejected the revenue section of the 2027 budget by a 31-3 vote, and lawmakers are expected to begin debate from the government’s original draft on Tuesday.
France’s National Assembly Finance Committee has approved amendment I-CF821, which would require holders of self-custodied crypto assets to disclose their holdings if the value reaches or exceeds €100,000, or about $112,000.
Under the proposal, the reportable value would be assessed as of Dec. 31 each year. Those who fail to file could face a fine of up to €10,000.
The amendment was introduced by Charles de Courson, Jean-Pierre Bataille and Michel Castellani. Its stated purpose is to combat tax evasion.
The measure has not yet been written into French law. It still needs to be resubmitted during the National Assembly’s review of the budget revenue section and approved before it can be incorporated into law.
According to Cointelegraph, after adopting the amendment, the Finance Committee rejected the revenue section of the 2027 budget by a 31-3 vote. Lawmakers are expected to begin debate on Tuesday starting from the government’s original draft.
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