Just saw an interesting piece of news: France’s National Assembly passed an amendment by 150:44 requiring people to report crypto assets worth over €100,000 (about $112,000) held in self-custody wallets to the tax authorities each year. The threshold is based on the value as of December 31 each year.
On the same day, another amendment—which would have exempted up to €1,000 a year in crypto payments from capital gains tax—was rejected by 69:14. In other words: buying coffee with crypto isn’t tax-free, but if you’re holding six figures’ worth of coins in your own wallet, you have to report it.
Web3 always says on-chain data is public and transparent, and that there’s no need for intermediaries. Yet regulators still want you to prove “this address belongs to you.” Technology has long been able to solve trust; institutions still want a human witness.
This amendment hasn’t become law yet. It still has to get through the National Assembly’s first reading on 11/17 and the Senate on 11/20. But the direction is clear enough: self-custody is shifting from “no reporting obligation” to “a reporting obligation.”
The real question isn’t the reporting itself, but what happens after you submit that form. What do you think? 🪙
#Web3 #CryptoRegulation #法国 #Bitcoin #自托管
On the same day, another amendment—which would have exempted up to €1,000 a year in crypto payments from capital gains tax—was rejected by 69:14. In other words: buying coffee with crypto isn’t tax-free, but if you’re holding six figures’ worth of coins in your own wallet, you have to report it.
Web3 always says on-chain data is public and transparent, and that there’s no need for intermediaries. Yet regulators still want you to prove “this address belongs to you.” Technology has long been able to solve trust; institutions still want a human witness.
This amendment hasn’t become law yet. It still has to get through the National Assembly’s first reading on 11/17 and the Senate on 11/20. But the direction is clear enough: self-custody is shifting from “no reporting obligation” to “a reporting obligation.”
The real question isn’t the reporting itself, but what happens after you submit that form. What do you think? 🪙
#Web3 #CryptoRegulation #法国 #Bitcoin #自托管