France proposes mandatory reporting of crypto holdings exceeding €100,000, triggering community backlash over security and privacy risks.
Regulation & Gov ·
French lawmakers have advanced a proposal requiring crypto holders to report self-custody wallet holdings of €100,000 or above, with non-compliance subject to fines up to €10,000. The measure has triggered backlash from crypto participants citing security concerns, particularly given a pattern of in-person crypto robberies and kidnappings in France, including a 2025 case involving a Ledger co-founder and his wife. Privacy advocates warn that mandatory reporting could expose holders to criminal targeting and point to prior incidents of French tax authority employees selling data to criminals. The amendment adopted by the French National Assembly's Finance Committee is not yet law and remains subject to change.