France supports the declaration of self-managed crypto assets valued at 100,000 euros and above.
The French National Assembly approved an amendment that requires taxpayers to declare self-managed crypto assets with a total value of at least 100,000 euros (112,000 US dollars) to the tax authorities.
According to the official parliamentary voting records, Amendment I-2701 was passed on Tuesday with 150 votes in favor, 44 votes against, and 8 abstentions. The threshold will be determined based on the value of holdings as of December 31 of the relevant tax year.
Additionally, the parliament rejected another amendment. The amendment proposed that if the total amount paid in cryptocurrency for the purchase of goods and services within a tax year did not exceed 1,000 euros (1,120 US dollars), then the related income would be exempt from taxation. According to parliamentary records, the proposal was rejected with 69 votes against and 14 votes in favor.
This declaration requirement is part of the 2027 fiscal bill and will only officially become law if it is retained in the final legislative text. According to the schedule, the National Assembly must complete the first reading of the bill by November 17th. Debates in the Senate are scheduled to begin on November 20th.
Encryption provisions are still subject to final approval in the budget bill.
Due to ongoing debates among members of parliament regarding the amendments, the National Assembly has postponed for the second time the voting on the revenue portion of the budget bill, which was originally scheduled for Tuesday. The voting was initially set for October 20th.
Morpho, the head of global public affairs for the lending agreement, Faustine Fleuret, stated to Cointelegraph that the postponement of the vote itself does not constitute a major change, but the revenue portion of the budget bill "is very likely to be rejected," which could "lead to the entire bill being rejected by the National Assembly, including those provisions that were adopted through amendments."
Last Friday, the National Parliament also rejected two proposals. These proposals were intended to impose an exit tax on the unrealized gains from encrypted assets of taxpayers when they transferred their tax residency to overseas.
In addition, on October 16th, the members of parliament also passed an amendment proposing to tax the profits generated from converting crypto assets into stablecoins. This proposal applies to stablecoins that are classified as electronic money tokens according to EU regulations, but it still needs to be retained in the final legal text.
Related Reading: French Senate Passes Bill on Automatic Sharing of Encrypted Tax Data












