France drops €100,000 self-custody crypto reporting rule from 2027 budget

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Dietmar Rabich

A sweeping rejection of the budget's revenue section wiped out the wallet disclosure amendment just days after lawmakers approved it

Thu 5 Nov 2026 · 05:37 EST · 3 min read

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French crypto holders who keep their own keys got an unexpected reprieve. A proposal requiring them to report self-custodied holdings above €100,000 has been stripped from the 2027 budget.

The rule did not die because lawmakers changed their minds about crypto. It died because the National Assembly rejected the entire revenue section of the finance bill, and the amendment went down with it.

A rule that lasted about 48 hours

On November 3, 2026, the National Assembly adopted amendment I-2701 by a comfortable margin. The tally was 150 votes in favor, 44 against and 8 abstentions.

The measure would have forced French taxpayers to declare crypto held in wallets they control directly. That covers hardware devices and software wallets not supplied by a crypto-asset service provider.

The reporting trigger was set at €100,000. Holdings would be measured once a year, on December 31, to determine whether a filing was required.

Skipping the declaration carried real teeth. Penalties for non-compliance could have reached €10,000.

Then the floor gave way. On November 4-5, 2026, the Assembly voted down the revenue portion of the budget 458-0, with two abstentions.

What else got swept out

The self-custody amendment was not the only crypto measure in the revenue section. Proposals to tax certain crypto-to-stablecoin conversions also disappeared.

So did provisions to strengthen penalties on crypto platforms. All of it fell when the revenue section was rejected.

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None of these ideas were defeated on their individual merits. They simply lost their legislative vehicle.

A second failed attempt at the same idea

This is not France’s first try at getting visibility into self-custodied crypto. An earlier proposal set the reporting threshold far lower, at €5,000.

That version was discarded in April 2026. It ran into verification issues and pushback from the crypto industry.

Raising the threshold to €100,000 looked like an attempt to narrow the target. A higher bar would have captured fewer, larger holders instead of anyone with a modest stack of tokens.

It also reflects a broader European backdrop. The EU’s DAC8 directive is set to enforce reporting by crypto platforms starting in 2026.

DAC8 deals with intermediaries, meaning exchanges and service providers that hold assets on behalf of customers. Self-custody sits outside that net, which is exactly the gap amendment I-2701 tried to close at the national level.

What this means for French crypto holders

In the short term, nothing changes for people holding crypto in their own wallets. There is no new annual declaration and no €10,000 fine hanging over anyone who misses one.

That relief comes with an asterisk. The proposals can be reintroduced in future parliamentary sessions, so the idea is shelved rather than buried.

The voting record suggests it will likely resurface. A 150-44 margin shows there is real appetite in the Assembly for some form of self-custody reporting, even if this particular attempt hit a procedural wall.

Two proposals in one year, one at €5,000 and another at €100,000, signal that lawmakers are still searching for a workable design.

The episode also highlights a structural tension in European crypto policy. Platform reporting under DAC8 gives tax authorities a clear line of sight into custodial accounts. Self-custody does not offer that, and any national rule targeting it will run into the same verification issues that sank the €5,000 version.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.