French crypto tax amendments rejected over the budget-revenue portion, with a new vote planned for October 20
BIBIBI
AT A GLANCE
France plans to impose an exit tax on certain crypto-asset holders and strengthen wallet declaration requirements.
Article
【French lawmakers push to impose an exit tax on ultra-800000 EUR high-net-worth crypto assets, with maximum fines for undeclared wallets of 10000 EUR】
France's National Assembly Finance Committee voted last week to approve multiple crypto tax amendments. Under the proposal, residents holding more than 800000 EUR in crypto assets who move abroad would be subject to an exit tax starting in 2027; the scope would cover tokens held on foreign platforms and self-custody wallets, while the tax rate has not yet been determined. Those moving within the European Union could apply to defer payment of the tax, and assets held for 2 to 5 years could become tax-exempt.
In addition, self-custody wallets valued at more than 100000 EUR at year-end would have to be declared, or face a maximum fine of 10000 EUR. Crypto-asset-to-stablecoin exchanges would also be brought within the existing flat tax rate of 31.4%. Notably, because the committee rejected the budget-revenue portion by a vote of 31 to 3, the above amendments must be resubmitted this Tuesday and will be put to a further vote on October 20,November 17 after a vote on the full package, before being referred to the Senate for consideration.
Key points
01
France's National Assembly Finance Committee voted last week to approve multiple crypto tax amendments.
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Under the proposal, residents holding more than 800000 EUR in crypto assets and moving abroad would be subject to an exit tax starting in 2027.
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The exit tax proposal covers tokens held on foreign platforms and self-custody wallets, but the tax rate has not yet been determined.
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Self-custody wallets valued at more than 100000 EUR at year-end would have to be declared; the maximum fine for non-declaration would be 10000 EUR。
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Crypto-asset-to-stablecoin exchanges would be brought within the existing flat tax rate of 31.4%.
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The relevant amendments must be resubmitted this Tuesday,October 20 put to a further vote,November 17 and referred to the Senate for consideration after a vote on the full package.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a set of French crypto tax proposals that remain under consideration. Key provisions include an exit tax upon moving abroad, declaration obligations for self-custody wallets, and the application of tax rates to stablecoin exchanges.
Why it matters to readers
If ultimately approved, qualifying crypto-asset holders may face new declaration and tax requirements.
A self-custody wallet is a wallet whose private keys are held by the user; the proposals concern asset thresholds, relocation, declarations, and transaction tax rates.
Risks and unknowns
The information comes from a single Telegram channel and does not include official French parliamentary documents or independent sources.
The exit tax rate has not yet been determined.
The relevant amendments still require resubmission, voting, a vote on the full package, and consideration by the Senate.
Whether the final text retains the 800000 EUR exit tax threshold, the 100000 EUR wallet declaration threshold, and the 31.4%scope of the tax rates remains uncertain.
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Related concepts
Exit tax
This term is not in the glossary yet. Browse related concepts in the glossary.
