France's National Assembly voted 150 to 44 on November 3 to make people report crypto they hold themselves, outside an exchange, if it is worth €100,000 (about $112,000) or more on December 31. Not reporting could cost up to €10,000 (about $11,200). It is one amendment to the 2027 budget and isn't law yet. Critics say a list of big holders could help kidnappers if it ever leaks.

Key facts

  • Who: France's National Assembly, voting on Amendment I-2701 to the 2027 Finance Bill
  • What: A duty to report self-custody crypto worth €100,000 or more to the tax office; it doesn't ban self-custody
  • How much: Fines of up to €10,000 for not reporting
  • When: Voted November 3, 2026; the Senate is set to take up the budget from November 20
  • Source: Cointelegraph, citing the Assembly's voting record

In France, holding a lot of crypto in your own wallet may soon mean telling the tax office about it. The National Assembly voted 150 to 44, with 8 abstentions, on November 3 to make people report self-custody crypto worth €100,000 (about $112,000) or more, Cointelegraph reported. The value is measured on December 31. Not reporting could bring a fine of up to €10,000 (about $11,200).

Self-custody means the coins sit in a wallet you control, such as a hardware wallet, rather than on an exchange. Exchanges in Europe already report to tax offices under EU rules. Wallets people hold themselves were the gap this amendment aims to close. Lawmakers looked at lower lines of €5,000 and €50,000 and rejected both.

It isn't law yet

The rule is Amendment I-2701 to France's 2027 budget bill. It only becomes law if it survives the rest of the budget process. The Senate is set to start its review on November 20. One analyst noted that if the revenue half of the budget is voted down, the whole bill falls, and this amendment with it.

The text also doesn't yet say what a report must contain. Saying "I hold more than €100,000" reveals far less than handing over wallet addresses, which would show every move.

Why critics call it a safety risk

France has more crypto kidnappings than anywhere else. Police logged 77 crypto-linked kidnapping and extortion cases in the first half of 2026, up from 45 in all of 2025, Cointelegraph reported in July. In January 2025, Ledger co-founder David Balland and his wife were taken from their home and held for ransom.

That is why the backlash was sharp. Rand Hindi, founder of the French company Zama, told holders to leave France or hire security, Decrypt reported. Mert Mumtaz, who runs the company Helius, warned that collecting this data puts it at risk of leaking. Supporters say the goal is catching tax fraud, not finding holders.

What holds wherever you live

  • Say less about what you hold. Not online, not to new contacts. Most wrench attacks start with someone knowing.
  • Keep your recovery phrase off your phone and out of the cloud. Here's what to do if it may be exposed.
  • Know the trade-off. Our guide to hot and cold wallets explains what self-custody protects and what it doesn't.

Sources: Cointelegraph, France backs reporting for self-custodied crypto worth 100K euros or more (November 2026), Decrypt, 'Leave': Crypto backlash over French proposal to report wallets over $112K (November 2026), Cointelegraph, French wrench attacks rise to 77 as government promises more support (July 2026).