France Targets Unreported Self-Custody Crypto Holdings Over €100K With Proposed €10K Fines

HIGHLIGHTS France’s finance committee approved I-CF821, proposing annual disclosures for self-custody wallets holding at least €100,000. Lawmakers would calculate qualifying crypto holdings using December 31 values under the proposed French rules. Proposed fines reach €10,000, while existing French tax law caps qualifying first violations at €5,000. The finance committee of France has given its approval for the proposal on self-custody crypto holdings of value at least €100,000. The proposal would impose fines up to €10,000 on those who don't report qualifying wallets.