【€100,000 in crypto sitting in your wallet? France wants you to report it proactively 💶👀】
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France wants you to disclose self-custody wallets worth over €100,000. The proposal has just passed the Finance Committee. The threshold is €100,000, roughly $112,000. This isn’t about exchange accounts, but the crypto you hold yourself. The rules aren’t official yet, and there are still plenty of uncertainties. My take: this first targets the big holders. 💶
The proposal is numbered I-CF821. In early October, it passed the Finance Committee. The threshold is €100,000, with an annual declaration. The valuation date is December 31. The penalty for failing to report is up to €10,000. It was put forward by three lawmakers from the same parliamentary group. 📋
The government looked into some old figures. In 2021, crypto capital gains totaled €3.5 billion. Only €400 million was declared that year. The difference was €310 million, with nobody claiming it. The value of $BTC and $ETH in wallets keeps rising, but the books show nothing. Put simply, they want the tax authorities to know the wallet exists. 🧾
Things also took a turn that same day. The related budget revenue provision was voted down, 31 to 3. It can only be resubmitted and put to another vote in a full session of the National Assembly. Debate continues on the 13th. This process isn’t over, and plenty could still change along the way. Don’t rush to conclusions—wait for the vote. 📮
France has tried this before. A version was proposed in April this year, with a threshold of just €5,000. It was rejected. This time, the threshold has been raised twentyfold, to €100,000. The official explanation is security-related. France has seen physical attacks targeting crypto holders. 🔒
There are other measures in the same reform package. If your assets exceed €800,000, moving away triggers an exit tax. Another measure would end the tax deferral on stablecoin exchanges. The reported tax rate is 31.4%. The cost of leaving has already been factored in. Personally, I think people who want to self-custody will feel this most. 🔐
📌 The threshold is €100,000, reporting becomes mandatory, and the fine is capped at €10,000; before you’ve even moved away, the exit tax is already waiting at the door.
If your wallet holds over €100,000, would you report it or keep it hidden? Let’s talk in the comments.
Join Mr. X’s fan group chat on the profile page 🔥
France wants you to disclose self-custody wallets worth over €100,000. The proposal has just passed the Finance Committee. The threshold is €100,000, roughly $112,000. This isn’t about exchange accounts, but the crypto you hold yourself. The rules aren’t official yet, and there are still plenty of uncertainties. My take: this first targets the big holders. 💶
The proposal is numbered I-CF821. In early October, it passed the Finance Committee. The threshold is €100,000, with an annual declaration. The valuation date is December 31. The penalty for failing to report is up to €10,000. It was put forward by three lawmakers from the same parliamentary group. 📋
The government looked into some old figures. In 2021, crypto capital gains totaled €3.5 billion. Only €400 million was declared that year. The difference was €310 million, with nobody claiming it. The value of $BTC and $ETH in wallets keeps rising, but the books show nothing. Put simply, they want the tax authorities to know the wallet exists. 🧾
Things also took a turn that same day. The related budget revenue provision was voted down, 31 to 3. It can only be resubmitted and put to another vote in a full session of the National Assembly. Debate continues on the 13th. This process isn’t over, and plenty could still change along the way. Don’t rush to conclusions—wait for the vote. 📮
France has tried this before. A version was proposed in April this year, with a threshold of just €5,000. It was rejected. This time, the threshold has been raised twentyfold, to €100,000. The official explanation is security-related. France has seen physical attacks targeting crypto holders. 🔒
There are other measures in the same reform package. If your assets exceed €800,000, moving away triggers an exit tax. Another measure would end the tax deferral on stablecoin exchanges. The reported tax rate is 31.4%. The cost of leaving has already been factored in. Personally, I think people who want to self-custody will feel this most. 🔐
📌 The threshold is €100,000, reporting becomes mandatory, and the fine is capped at €10,000; before you’ve even moved away, the exit tax is already waiting at the door.
If your wallet holds over €100,000, would you report it or keep it hidden? Let’s talk in the comments.