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What amendment I-CF821 actually says

The amendment, tabled by Charles de Courson, Jean-Pierre Bataille and Michel Castellani of the LIOT group, changes two articles of France's general tax code (Code général des impôts):

In plain terms: a hardware wallet, a phone wallet or any wallet where you alone hold the keys would count if it holds €100,000 or more at year-end. Coins held on an exchange or other licensed provider are outside this new paragraph, because providers already report to the tax office. The sponsors' explanatory note says the penalty mechanism could reach €10,000 for failing to declare.

Why the sponsors want it

The explanatory statement cites recommendation no. 9 of a parliamentary inquiry into the taxation of the wealthiest households. The inquiry found that French crypto capital gains reached €3.5 billion in 2021, while only €400 million of crypto holdings were declared to the tax administration (DGFiP) that year. The sponsors call crypto a potentially important vehicle for fraud and say holdings are underestimated.

According to French tech site Clubic, a first version with a €5,000 threshold was dropped in April in a joint committee of both chambers. The new threshold is twenty times higher.

The other crypto amendments adopted the same week

CF821 was one of ten crypto amendments the Finance Committee examined; Clubic counts five adopted and five rejected. The adopted ones, as reported by Clubic and Cointelegraph:

Rejected, per Clubic: proposals by Paul Midy including an exemption for crypto payments up to €1,000 a year. The annual disposal threshold below which gains are not taxed stays at €305.

The stablecoin swap tax is the change most likely to affect active traders. Today, moving from bitcoin into a euro or dollar stablecoin is not taxed in France; under CF1826 it would be, so a trader could owe tax without ever cashing out to a bank account.

Why none of this is law yet

On Friday 9 October, hours after adopting CF821, the Finance Committee rejected the revenue part of the 2027 Finance Bill by 31 votes to 3. Under French procedure, the full Assembly then debates the government's original draft, not the committee's version. The timetable reported by Cointelegraph and Clubic:

• 13 October: the full Assembly starts debating the revenue part. Every crypto amendment must be tabled again.
• Until 19 October: debate on revenue, with a formal vote the following day.
• 10 December: end of the 70 days Parliament has to adopt the budget.

There is a further catch. Last year the 2026 budget was adopted on 2 February 2026 after the government used Article 49.3 three times, which lets it choose which amendments stay in the text. Clubic notes that a government using 49.3 could drop the deputies' crypto amendments. La France insoumise has said it would table a censure motion if 49.3 is used again.

How this fits with DAC8

The self-custody rule fills the gap left by the EU's DAC8 directive. Since 1 January 2026, crypto service providers in the EU collect users' identities and transaction data for tax authorities, and the first cross-border exchanges of 2026 data are due by September 2027. DAC8 cannot see wallets with no provider behind them. CF821 would make the holder report those wallets instead.

What to watch

• Whether CF821 and CF1826 are re-tabled this week. The amendment numbers will change in the plenary; search the Assembly's amendment database for "crypto-actifs".
• The 20 October vote on the revenue part, and whether the government falls back on 49.3.
• The final wording of the threshold. The committee text values the wallet on 31 December, so a holding that crosses €100,000 during the year but ends below it would not need declaring under that wording.

What it means for you

If you are a French tax resident with a large self-custody balance, nothing changes today, and the committee text does not say from which tax year the duty would first apply. Keep records of which wallets you control and their value at year-end, and of your acquisition costs, which you would need anyway if stablecoin swaps become taxable. If you trade actively, think about where you keep trading balances: coins on a provider are already reported under DAC8, while every crypto-to-stablecoin swap could become a taxable event. For trading on a large exchange, OKX charges 0.08% maker and 0.10% taker on spot for regular accounts, and signing up with code nexu888 returns 40% of fees, settled hourly; check that the service is available to you in France first (OKX profile).

Quick answers

Do I have to declare my Ledger or hardware wallet in France? Not yet. Amendment CF821 would require it from €100,000 on 31 December, but it must pass the full Assembly first.

What is the fine for not declaring a self-custody wallet? Up to €10,000 under the amendment's explanatory note.

Is swapping bitcoin to USDC or EURC taxable in France? Not today. Amendment CF1826 would make it taxable from 1 January 2027 if adopted.

What is the French crypto exit tax proposal? Taxing unrealised crypto gains when households with more than €800,000 in crypto move abroad.

When will French MPs vote? Debate starts 13 October; the vote on the revenue part is expected the day after debate ends on 19 October.

Limits of this article

The wording of CF821 comes from the amendment published by the National Assembly. Details of the other amendments, vote counts and dates come from Clubic and Cointelegraph; we have not read every amendment text. Amendment numbers and wording can change in the plenary, and the government can still remove them. This is not tax advice; ask a French tax adviser about your own situation. Partner links may earn NexuAlpha a commission paid by the exchange, at no extra cost to you.