France backs reporting for self-custodied crypto worth 100K euros or more

The French National Assembly approved an amendment that would require taxpayers to report self-custodied crypto holdings totaling at least 100,000 euros ($112,000) to tax authorities.

Amendment I-2701 was adopted on Tuesday in a 150–44 vote, with eight abstentions, according to the Assembly’s official voting record. The threshold would be assessed on Dec. 31 of the relevant tax year.

Separately, the Assembly rejected an amendment that would have exempted gains on crypto payments for goods and services from tax if the payments totaled no more than 1,000 euros ($1,120) during the tax year. The proposal was defeated 69–14, according to the Assembly’s transcript.