The French National Assembly has passed a bill requiring users to report self-custody wallets holding over €5,000 to the tax watchdog DGFIP. The DGFIP warns it cannot verify the data and that the measure could make holders prime targets for hackers. Analysts predict the rule will likely fail.
The French National Assembly passed a bill requiring users to disclose self-custody crypto wallets holding over €5,000. The tax watchdog DGFIP warns it will centralize sensitive data, making holders prime targets for hackers. The measure faces government hostility and uncertain prospects.
The French National Assembly removed a controversial article from the upcoming Fraud Law that would have required taxpayers to report self-custody crypto wallets exceeding €5,000, citing feasibility and security risks.
