France votes to make big self-custody crypto holders report their stacks

French lawmakers want to know who's holding their own keys — and how much. The National Assembly adopted Amendment I-2701 on Tuesday by a 150–44 vote, with eight abstentions, according to the Assembly's official voting record. The measure would force taxpayers to report self-custodied crypto worth at least 100,000 euros ($112,000) to tax authorities. The threshold gets measured on Dec. 31 of the tax year in question.

The amendment rides inside the 2027 Finance Bill, so it isn't law yet. It has to survive the full legislative process to stick. The Assembly is racing a Nov. 17 deadline to wrap its first reading, and the Senate is set to start debating the bill on Nov. 20, per its schedule.

Not every crypto-friendly idea made the cut. Lawmakers shot down a proposal that would have exempted gains on crypto payments for goods and services from tax when those payments stayed at or under 1,000 euros ($1,120) for the year. That one lost 69–14, according to the Assembly's transcript. On Friday, the Assembly also rejected two proposals that would have slapped exit taxes on unrealized crypto gains when taxpayers moved their tax residence abroad.

One proposal did clear the chamber earlier. On Oct. 16, lawmakers approved an amendment to tax gains from converting crypto into stablecoins — specifically those classified as electronic money tokens under EU rules. Like the reporting requirement, it still needs to make it into the final law.

The budget process itself is wobbling. The Assembly postponed Tuesday's scheduled vote on the budget's revenue section for the second time as lawmakers kept grinding through amendments; it was originally set for Oct. 20. Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph the delay alone isn't a big deal — but a likely rejection of the revenue section could sink the entire bill in the Assembly, amendments and all.

So the reporting rule for big self-custody stacks is alive, not settled. Watch the Nov. 17 deadline and the Senate's Nov. 20 start date — that's where the provision either holds or falls apart.