France self-custody wallet declaration at 100,000 euro
France's National Assembly wants wallets held outside a crypto provider declared from 100,000 euros. What has been decided, and what has not?
On 3 November 2026, the French Assemblée nationale adopted an amendment requiring holders of a wallet outside a crypto provider to declare it to the tax authority once its value on 31 December is 100,000 euros or more. The amendment passed with 150 votes in favour and 44 against, against the government's advice. It is a change to the 2027 budget at first reading, so it is not yet law.
Declaring self-custodied crypto in short
- What: a duty to declare crypto wallets that you manage yourself, meaning not held with a crypto-asset service provider (an exchange or custodian).
- Threshold: the total value of the crypto in those wallets, measured on 31 December of the year you are declaring for, is 100,000 euros or more.
- Penalty: anyone who fails to declare risks a fine of up to 10,000 euros.
- Vote: 150 for, 44 against, 202 members voting, on 3 November 2026. Thresholds of 5,000 and 50,000 euros were rejected.
- Status: adopted as an amendment at first reading of the budget. It still has to get through the rest of the process, including the Senate.
- Still open: how the value is determined and what information you have to provide are not in the text.
What does the amendment say?
The amendment is numbered I-2701 and was tabled on 10 October 2026 by Charles de Courson with six colleagues. It adds a paragraph after the first paragraph of article 1649 bis C of the Code général des impôts. Anyone already covered by that article must also declare any “portefeuilles de crypto-actifs” that they manage directly themselves. The conditions in the text:
- The wallet is not held with a crypto-asset service provider (prestataire de services sur crypto-actifs).
- The total value of the crypto-assets in it, on 31 December of the year of the declaration, is “supérieure ou égale à 100 000 euros”.
A second change in the same text adds article 1649 bis C to article 1729 C ter, the provision on which the penalty rests. The explanatory statement mentions a penalty “pouvant aller jusqu'à 10 000 euros”.
The table is a worked example based on the text; whether several wallets are added together is something the editorial team cannot say for certain from the amendment (see below).
Why does De Courson want this?
In the explanatory statement, De Courson refers to the report of the commission of inquiry on the taxation of the highest wealth and incomes, recommendation 9. He cites two figures from 2021: 3.5 billion euros in realised capital gains and 400 million euros in assets declared to the tax authority (DGFiP). In the sitting on 3 November he said that declared capital gains came to 400 million euros while studies put the real amount closer to 3.5 billion euros, and from that he estimated a fraud rate of 80 to 90%. Those are his figures; the editorial team could not open the underlying studies. His aim: to help the tax authority spot the largest amounts.
Nicolas Sansu argued for lower thresholds in his amendments. He said that roughly 70% of crypto sits with a provider and is therefore reported, while the other roughly 30% is self-custodied and “invisible”. That too is a statement made in the debate, not an established figure.
What did the opponents say?
The government was against. Minister David Amiel (action and public accounts) pointed to the European DAC8 directive: it requires intermediaries to report, and their data is hard to manipulate. Self-custodied wallets do not fall under DAC8, he admitted. But in his view the system then depends on people declaring for themselves, and “un fraudeur ou un bandit” will not do that. He would rather target the intermediaries. You can read how DAC8 works in DAC8 crypto reporting: what exchanges send tax authorities.
Philippe Juvin, general rapporteur of the finance committee, found the principle “intelligent” but left the threshold to the Assemblée; his advice on amendment 2701 was “sagesse”. Paul Midy argued that anyone with more than 5,000 euros in cash or jewellery at home does not have to declare it either. He pointed to kidnappings and robberies of crypto entrepreneurs in France, caused in part, he said, by their addresses having been leaked online.
That last point touches on something self-custodians fear: a list of holders is a list of possible targets. Sansu replied that the tax authority already keeps a central register of bank accounts, Ficoba, and cited data breaches at wallet companies as proof that the private sector is no better at this. For a recent breach at a wallet maker, read Keystone data breach: what to do if you bought a wallet.
The other thresholds and earlier attempts
At the same sitting, two other thresholds were rejected:
In the debate, Sansu said that a version with 5,000 euros was adopted in the Assemblée in February 2026 as part of the bill against social and tax fraud, but did not survive the joint committee (CMP). The editorial team has not checked this against another source.
What does this mean for you as a European investor?
France. Only if this survives the whole budget procedure will a French taxpayer holding 100,000 euros or more of self-custodied crypto on 31 December face an extra duty to declare. This amendment contains no annual tax on holdings. It is also a different proposal from France's plans to tax swaps into stablecoins.
Elsewhere in Europe. This amendment applies only to France. What applies to declarations and tax in your country is set out country by country in crypto tax in Europe. Crypto-asset service providers fall under DAC8; self-custodied wallets do not, as the minister himself said.
What you can do now. As long as this is not law, nothing changes. For more on self-custody, read how to choose a crypto wallet.
What is not certain yet
- Whether it becomes law. It is an amendment at first reading of the budget in the Assemblée. The government was against, and the text still has to go through the rest of the process, including the Senate. Amendments can be struck out or changed there.
- What exactly is added up. The text says “la valeur totale des crypto-actifs qui y sont détenus”. Whether that applies per wallet or across all your self-custodied wallets together cannot be determined from the text.
- Valuation and form. The amendment does not say which exchange rate to use, or which form or which details (for example wallet addresses) you must provide.
- Start date. The text names no first reporting period.
- The penalty. The explanatory statement says “jusqu'à 10 000 euros”; the exact rules follow from article 1729 C ter and were not looked into further at the time of writing.
This article is not investment or tax advice. Crypto can fall sharply in value and you can lose your entire investment.
Frequently asked questions
Do I have to declare my hardware wallet in France now?
No. The amendment was adopted as part of the budget debate, but it is not yet law. A duty only arises once the text is final.
From what amount does the declaration apply?
Under the amendment, from 100,000 euros, measured on 31 December of the year of the declaration. That includes exactly 100,000 euros.
Does this also apply if my crypto is on an exchange?
Not under this amendment: it concerns wallets that are not held with a crypto-asset service provider. Providers fall under DAC8; see above.
Does this apply outside France?
No. It is a French change to the law. For other countries, see crypto tax in Europe.
What is the penalty?
Up to 10,000 euros for anyone who fails to declare, according to the explanatory statement to the amendment.
Sources
Read on 5 November 2026.