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France’s National Assembly Finance Committee adopted an amendment on 9 October 2026 that would require certain France-domiciled people and entities to declare directly held, self-hosted crypto wallets worth at least €100,000 at the end of the reporting year. The measure is still part of the 2027 finance bill and is not enacted law. The amendment’s threshold is €100,000, not a fixed dollar amount; the “$112K” figure is only an approximate conversion that changes with exchange rates.
What the committee-approved amendment would do
Amendment I-CF821 would add a new paragraph to Article 1649 bis C of France’s General Tax Code. It targets persons and legal entities already covered by that article and would require them to declare crypto-asset wallets they hold directly when those wallets are not held with a crypto-asset service provider.
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The threshold is written as “supérieure ou égale à 100 000 euros,” meaning €100,000 or more. The value would be assessed on 31 December of the relevant reporting year. A holding exactly equal to €100,000 would therefore meet the proposed threshold.
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It is a proposal, not a current reporting duty
The amendment was filed on 3 October 2026 and adopted by the Finance Committee during first reading on 9 October. The National Assembly’s 2027 finance bill places it within an ongoing parliamentary process. Committee adoption advances the text but does not enact it. It must still pass the remaining stages of the bill process, and its wording could change or the provision could be rejected.
As of the legislative status reflected on 12 October 2026, there is no established implementation date, declaration form, detailed valuation method, or final sanction for this proposed self-hosted-wallet duty. Reports that France “now requires” these declarations overstate the amendment’s status.
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How the proposal differs from existing French rules
Article 1649 bis C already covers specified crypto-asset portfolios held with foreign providers and certain non-fungible crypto-assets held or used abroad by France-domiciled or established persons and entities. That existing scope is different from the proposed rule for directly held wallets. The current foreign-provider declaration should not be treated as an existing €100,000 self-hosted-wallet requirement.
| Feature | Current Article 1649 bis C framework | Proposed amendment I-CF821 |
|---|---|---|
| Who reports | Covered France-domiciled or established persons and entities | The persons and entities already covered by Article 1649 bis C |
| What is covered | Specified portfolios with foreign providers and certain NFTs held or used abroad | Directly held crypto wallets not held with a crypto-asset service provider |
| Threshold | Not stated in the cited current provision as this proposed €100,000 test | At least €100,000 in total value |
| Valuation date | Not established for the proposed test | 31 December of the reporting year |
| Status | Existing statutory framework | Committee-adopted amendment still under consideration |
| Procedure and deadline | Existing rules apply to their specified scope | Final form and filing timeline not established |
Separate reporting by crypto-asset service providers
France also has a provider-focused regime under Articles 1649 AC bis and following. An implementing decree states that it applies from 1 January 2026 to reportable transactions made from that date, with providers filing before 15 June of the following year. That system places reporting responsibilities on crypto-asset service providers and should not be confused with the proposed declaration by individual holders or entities of self-hosted wallets.
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| Feature | Proposed holder declaration | Provider reporting regime |
|---|---|---|
| Reporter | Covered wallet holder or legal entity | Crypto-asset service provider |
| Reported subject | Qualifying directly held wallet references and holdings | Reportable transactions under the provider framework |
| Custody scope | Wallets not held with a crypto-asset service provider | Transactions handled within the provider-reporting framework |
| Threshold | Proposed €100,000 year-end value | Not the proposed €100,000 holder threshold |
| Timing | Not yet specified | Providers file before 15 June of the following year under the implementing decree |
| Status | Pending amendment | Framework applying from 1 January 2026 for covered transactions |
Why lawmakers proposed it
The amendment’s explanatory statement says crypto-assets may facilitate tax fraud and that holdings are under-reported. It cites figures attributed to recommendation 9 of a parliamentary inquiry report: €3.5 billion in realized crypto capital gains in 2021 compared with €400 million of crypto assets declared to the French tax administration (DGFiP) that year. Those numbers are presented in the amendment’s explanation and should be understood as figures attributed there to the inquiry report.
The explanatory statement describes the measure as an obligation to notify the tax administration of self-hosted crypto-asset wallets above a €100,000 holding threshold. That wording explains the amendment’s objective; it does not establish that the obligation is already in force.
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Potential penalties remain unsettled
I-CF821 also proposes changing Article 1729 C ter so that it cross-references Article 1649 bis C. The explanatory statement says the mechanism could impose a penalty of up to €10,000 for non-declaration. Because the amendment remains pending, the final penalty, how it would be calculated, and the procedures for correcting or contesting a declaration cannot be treated as settled law.
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What wallet holders should do now
- Do not treat the committee vote as an immediate filing deadline. No enacted rule, form, or implementation date has been established by the amendment’s adoption.
- Keep reliable records. Preserve wallet addresses, transaction histories, acquisition records, transfers, and year-end balances so that holdings can be reconstructed if a final rule is adopted.
- Separate custody categories. Track self-hosted wallets separately from accounts held with service providers and from assets covered by existing foreign-account or NFT declarations.
- Monitor the bill’s later stages. Parliament may alter the threshold, valuation rules, scope, deadline, or sanctions before final enactment.
- Obtain advice for your facts. Cross-border residence, entity status, wallet control, and asset classification can affect which existing tax obligations already apply.
What is still unknown
- Whether the provision will survive later readings and become law.
- The final valuation methodology, including treatment of volatile assets and multiple wallets.
- The declaration form, filing channel, and deadline for holders.
- The effective date and transitional rules.
- The final penalty wording and enforcement process.
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