French lawmakers are pushing for a crypto asset exit tax, with a maximum fine of €10,000 for undeclared self-custody wallets.

The French National Assembly’s Finance Committee passed multiple cryptocurrency tax amendments last week, proposing to include crypto assets in the scope of exit tax starting in 2027, and impose a maximum €10,000 fine on unreported large-value self-custody wallets. Under current rules, taxpayers who have resided in France for at least six years in the past decade and hold stocks and other securities worth over €800,000 when leaving the country must pay exit tax on unrealized gains. The new amendments aim to add crypto assets such as Bitcoin to this threshold, covering assets held on overseas platforms and in personal self-custody wallets. Tax rates for the crypto-related measures have not yet been specified. Some taxpayers relocating to the EU or specific countries can defer tax payments; if they retain their assets for the required 2 to 5-year period, the tax will be canceled. Additionally, lawmakers propose that taxpayers with total self-custody wallet assets of €100,000 or more at year-end must file voluntary reports, with a maximum €10,000 fine for non-compliance. Currently, France only requires reporting of foreign crypto accounts. Other measures backed by the committee include taxing crypto asset conversions to stablecoins starting in 2027, allowing crypto losses to offset gains over the next 10 years, and raising the fine for failing to submit documents as required by tax authorities from €10,000 to €50,000 per instance. All these measures are not yet officially effective. Since the Finance Committee rejected the revenue section of the 2027 budget bill, the amendments must be reintroduced and voted on by the full National Assembly. French lawmakers are expected to vote on the budget’s revenue part again on October 20, and on the full budget bill on November 17.