French MPs are backing proposals that would require certain crypto holders in France to declare large holdings and could face penalties for undeclared self-custody wallets. One proposal would apply to wallets/assets worth more than €100,000, with potential fines of up to €10,000 for failing to declare qualifying cryptocurrency holdings.
The measures are being advanced through the legislative process and must still be voted on again. Euronews also reports discussion of an exit tax targeting wealthy investors who leave the country, including for gains made on holdings while resident in France. Outlets also note concern in France’s crypto community after a reported rise in “wrench attacks,” where individuals are physically targeted to steal crypto-related assets.
Across the coverage, the central focus is on tightening disclosure and enforcement around high-value crypto holdings, alongside penalty provisions for non-compliance, while parliamentary steps and the scope of tax treatment for those relocating remain subject to further votes.
