France's €10,000 self-custody crypto fine must be resubmitted after the committee rejected the revenue section

Whether the clause shows European tax authorities going after off-platform wallets is a bigger claim than the record supports. We think it is a signal, or rather a request, from three lawmakers: Charles de Courson, Jean-Pierre Bataille and Michel Castellani of the LIOT group introduced it ^[7], and they said its purpose was to combat tax evasion ^[8]. Clubic, as cited by Cointelegraph, said the crypto amendments would have to be submitted again and approved during the parliamentary proceedings before becoming part of the legislation ^[6].

The tax administration's own channel runs separately: France has been preparing to collect more information on crypto transactions through the EU's DAC8 framework ^[14]. The sponsors' stated gap is assets that may not appear in what regulated financial institutions submit ^[10]. We would change our view if the government's own text, or a floor vote in the Assembly, carries a wallet-declaration clause.

The inquiry numbers need care. Divided, its two figures give 8.75 to 1 ^[13]. But gains come from disposals and holdings are reported assets ^[9], so one accrues over a year and the other is a stock at a date, and the reports do not say how many wallets sit above €100,000 or what the clause would raise.

The penalty is a flat cap, so it shrinks as holdings grow: at €800,000, the level above which the exit tax would apply ^[4], it is 1.25% of value ^[16]. We would expect it to deter least where the holdings are largest. The measure concerns disclosure only, with no ban on personal wallets and no requirement to move assets to regulated custodians ^[12], so we see no forced flow toward exchanges in it.