French Lawmakers Approve Mandatory Reporting for Large Crypto Wallets

Key Facts

1French lawmakers backed a rule requiring disclosure of crypto wallets exceeding $112,000 in value.

2Wallet holders could face fines of up to 10,000 euros for failing to declare qualifying assets.

French lawmakers backed a rule requiring disclosure of crypto wallets exceeding $112,000 in value. Cointelegraph reported that the measure aims to increase transparency and tax compliance within the digital asset sector, specifically targeting holdings equivalent to approximately 100,000 euros.

Wallet holders could face fines of up to 10,000 euros for failing to declare qualifying assets under the new regulations. This regulatory tightening follows recent economic data from the country, where industrial production fell 0.3% on October 6, 2026, and the French balance of trade recorded a 6.1 billion euro deficit on October 7, 2026.