France backs reporting proposal for self-custodied crypto worth €100,000

France has backed an amendment that would require taxpayers to report self-custodied cryptocurrency holdings worth at least €100,000, according to Cointelegraph. The proposed disclosure requirement, covering holdings equivalent to approximately $112,000, still needs to survive the budget process before it can become binding.

The development is a step toward reporting requirements rather than confirmation that a new rule has taken effect. The source describes an amendment with further legislative hurdles ahead, leaving its eventual adoption unresolved and making the distinction between a proposal and an enforceable obligation important for affected taxpayers.

At the center of the proposal is cryptocurrency held in self-custody, meaning assets controlled by their owners rather than entrusted to a third-party custodian. That focus makes the amendment relevant to taxpayers who retain direct control of their crypto, although the supplied report does not explain how covered holdings would be defined.

The €100,000 threshold is the main scope condition identified in the report, which says holdings at or above that value would have to be disclosed. It does not establish whether the threshold would apply across all of a taxpayer’s self-custodied assets or how separate holdings would be treated.

Valuation would be an important practical consideration if the measure advances, because determining whether holdings meet a monetary threshold requires a valuation method. The available source material does not specify a measurement date, pricing method or treatment of changes in value, so those details cannot yet be described from this account.

The reported amendment concerns disclosure of holdings, not a stated new tax rate or a requirement to surrender control of cryptocurrency. Nothing in the supplied material establishes an obligation to transfer assets to a custodian, and a reporting proposal should not be interpreted as such without supporting legislative details.

For taxpayers, the immediate significance is the possibility of an additional disclosure obligation tied to assets they control directly. However, the report provides no implementation date, filing procedure or penalties, leaving insufficient information to describe what compliance would involve if the amendment ultimately becomes part of the budget.

The next issue is whether the measure survives the remaining budget process and, if it does, what the final text requires. Until that outcome is established, Cointelegraph’s report supports a narrower conclusion: France has backed a reporting amendment for substantial self-custodied crypto holdings, but the requirement is not yet assured.