French Senate Approves Automatic Crypto Tax Data Exchange

The French Senate has approved a bill authorizing the automatic exchange of tax information regarding digital assets. The text passed its first vote and has moved to the National Assembly for review.

The proposal is based on the crypto-asset reporting framework developed by the Organization for Economic Cooperation and Development. The goal is to standardize the collection and sharing of transaction data across participating jurisdictions.

France already has reporting obligations established by the 2025 Finance Act. These rules implement the European DAC8 directive, which requires service providers to report user identities and transaction volumes to tax authorities.

The legislative debate also covers tax changes planned for the 2027 budget. An amendment under discussion suggests taxing gains from conversions into certain fiat-pegged stablecoins starting in January 2027.

Experts have raised concerns about the security of this centralized information. Creating a single repository for sensitive investor data could increase cybersecurity risks and the potential for targeted attacks.