French lawmakers have advanced legislation mandating cryptocurrency holders to declare self-hosted wallets containing €5,000 or more in digital assets. The measure, embedded in a broader anti-fraud bill, cleared its first parliamentary reading this week.
Authorities aim to reduce opacity in crypto transactions, which currently evade the scrutiny applied to traditional bank transfers. The move follows a record €17 billion tax haul in 2025, with officials now targeting undeclared digital wealth.
This regulatory shift mirrors global trends toward greater crypto transparency, though critics warn it may stifle innovation. The French tax agency will integrate wallet monitoring into existing surveillance frameworks, significantly expanding its investigative reach.
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