According to CoinMeta, French legislators have advanced a proposal that requires crypto holders to report assets equivalent to or exceeding 100,000 euros (about $112,000); otherwise, they will face fines of up to 10,000 euros (about $11,000). Some crypto holders are outraged by this new regulation, believing it threatens personal security. This proposal was made after several high-profile crypto robbery incidents occurred in France. The CEO of the privacy infrastructure company Nym, Harry Halpin, stated that corrupt employees of the French tax authorities pose a threat to citizens, and France should be responsible for the victims of crypto kidnappings. The proposal also requires crypto users to declare the assets held in their self-hosted wallets. Although the proposal has not yet become law, it still needs further review.