France Backs Reporting of Self-Custodied Crypto Over 100,000 Euros: What It Means for Crypto Tax in Germany
France's National Assembly has voted to back a rule that would force taxpayers to report self-custodied crypto worth at least 100,000 euros, but it is not law yet. If you follow crypto tax in Germany or anywhere else in the EU, this is a signal about where regulators are heading, not a change to your own obligations today. It still pays to get your records in order now.
What the French Assembly actually approved
The amendment, numbered I-2701, was adopted on Tuesday by 150 votes to 44, with eight abstentions, according to the Assembly's official voting record. It would require taxpayers to declare crypto they hold in self-custody, meaning in wallets they control themselves rather than on an exchange, to the tax authorities once the total reaches 100,000 euros, roughly $112,000 at the time of reporting.
The test date matters. The threshold would be assessed on 31 December of the relevant tax year, so it works as a year-end snapshot rather than a running total across the year. A holder who briefly crossed the line in March but sat below it at year-end would, on the text as described, fall outside the requirement.
Where the measure sits in the legislative process
The reporting rule is part of the 2027 Finance Bill. To become law it would need to be kept in the final legislation, and that is far from guaranteed. The Assembly has until 17 November to finish its first reading of the bill, and the Senate is scheduled to begin its debate on 20 November.
The budget's revenue section has also been a moving target. A vote on it that was originally planned for 20 October was pushed back and was scheduled again as lawmakers kept working through amendments. Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph that the postponement itself changes little. Her concern is the likely rejection of the revenue section, which she said could lead to the rejection of the whole bill in the National Assembly, including provisions added by amendment.
In plain terms: the amendment passed a vote, but the vehicle carrying it could still fail. Anyone treating this as settled French law is getting ahead of the process.
Other French crypto tax votes in the same budget debate
The wallet reporting amendment is one of several crypto items in the same bill, and the outcomes were mixed. Looking at them side by side shows how unsettled the French position still is.
What passed and what was rejected
The table below summarises the votes mentioned in the reporting, using only what has been stated.
| Proposal | Outcome | Status |
|---|---|---|
| Report self-custodied crypto of 100,000 euros or more (I-2701) | Adopted 150 to 44, eight abstentions | Must be retained in the final law |
| Exempt gains on crypto payments for goods and services up to 1,000 euros a year | Defeated 69 to 14 | Not in the bill |
| Exit taxes on unrealised crypto gains when moving tax residence abroad (two proposals) | Rejected on Friday | Not in the bill |
| Tax on gains from stablecoins classed as electronic money tokens under EU rules | Approved 16 October | Must be retained in the final law |
Two points stand out for ordinary holders. First, a small-payments exemption was refused, so spending crypto on goods and services would not get a de minimis break under the proposals as they stand. Second, the stablecoin item targets tokens that count as electronic money tokens under EU rules, which is the category many euro and dollar stablecoins fall into once they are offered in the EU.
Why the stablecoin item matters for USDT and USDC holders
Many people assume stablecoins are tax-neutral because the price barely moves. That assumption is shaky. In many systems, swapping one token for another, or spending a stablecoin, is a disposal that has to be recorded even if the gain is a few cents. The French stablecoin amendment is a reminder that lawmakers are looking directly at this area. We have covered the details in our piece on how the stablecoin tax proposal could work in France, and the same logic of tracking every conversion applies when you think about USDT tax and USDC tax in any country.
What this means for crypto tax in Germany
Nothing in the French vote changes German law. A French reporting threshold would bind taxpayers resident in France, not people living in Germany. The reason it is still worth your attention is the direction of travel across Europe: tax authorities want more visibility into assets that sit outside regulated platforms.
The German starting point
If you are asking how crypto is taxed in Germany, the short answer is that it depends on what you did with the coins and how long you held them. The classification of gains, the holding-period rules and any allowances are set by German law and administrative guidance, and they have changed over time. Check the current rules with the Federal Ministry of Finance, your local tax office or a qualified German tax adviser before relying on any summary, including this one. We have also followed the political backdrop in Germany's coalition budget fight and crypto tax.
What does not depend on the law is the quality of your data. Whatever the rules say, you can only apply them if you can show what you bought, when, at what price in euros, and where each coin went afterwards.
Why self-custody makes record-keeping your job
When you buy on an exchange, you usually get a transaction history and often a downloadable statement. When you move coins to a hardware wallet or a self-custodied software wallet, that tidy trail ends. The blockchain still records every transfer, but it does not tell you the euro value on the day, which of your own addresses belong together, or whether a transfer was a sale or just a move between your own wallets.
A reporting rule like the French one would turn that gap into a compliance problem. You would need a defensible year-end valuation across every wallet you control, and you would need to be able to explain it if asked. Even where no such rule exists, the same evidence is what supports your position in an enquiry about your gains.
Practical steps for individual holders now
You do not need to wait for the French Senate to act. A few habits make any future reporting regime, French, German or EU-wide, far less painful.
Build a clean wallet inventory
- List every wallet and address you control, including old ones, with the date you created it and its purpose.
- Mark which transfers are between your own wallets, so they are not mistaken for disposals.
- Record a euro value for each holding at 31 December each year. That date is the one the French amendment would use, and it is a natural reference point for any annual snapshot.
- Keep stablecoins in the same inventory as everything else. USDT and USDC balances count toward your total, and every swap or payment involving them should be logged.
Prepare your crypto tax report and filing workflow
When it comes time to calculate crypto taxes, the work is mostly assembling clean inputs: transaction histories from exchanges, wallet exports from the chain, and a consistent way of valuing everything in euros. Many people use crypto tax software or a German-specific crypto tax calculator to pull those sources together and produce a crypto tax report that matches the rules of their country. Whichever tool you choose, check that it supports the German treatment of your transactions and lets you export the evidence behind each figure.
If you are wondering how to file crypto taxes, start from the same place: complete records first, then the form your tax authority requires. If you are unsure how a particular transaction is treated, ask a qualified adviser rather than guessing. Where past years were filed with gaps, it is better to understand your options early than to wait for a letter.
What to watch next
The next few weeks decide whether the French measure survives. The Assembly's first reading must finish by 17 November, and Senate debate is scheduled from 20 November. The key risks are the possible rejection of the revenue section and, with it, of amendments such as the wallet reporting rule and the stablecoin gains tax.
Scenarios to keep in mind
- The reporting rule is kept in the final law: French residents with 100,000 euros or more in self-custody would need to disclose at year-end, and other countries may take note.
- The revenue section is rejected and the bill falls in the Assembly: the amendments adopted along the way, including this one, would fall with it.
- The text is changed in the Senate or later: thresholds, definitions and dates could all shift before anything takes effect.
For earlier developments on the French track, see our report on France's earlier move to require disclosure of crypto wallets above 100,000 euros. For wider context on how reporting rules are evolving, our crypto compliance and reporting hub collects the related coverage.
The bottom line for German and EU readers
The vote is a proposal inside a budget that might not pass, and it applies to France only. But it fits a clear pattern: more attention on self-custody and on stablecoins. The practical response is the same whichever way the bill goes. Know what you hold, know what it was worth in euros at year-end, and keep the evidence that explains every move.
FAQ
Does the French vote apply to me if I live in Germany?
No. The amendment concerns taxpayers under French tax rules, and it has not become law. German residents remain subject to German rules. It is still a useful signal of what other EU states may consider.
What exactly would the French rule require?
Taxpayers would have to report self-custodied crypto holdings totalling at least 100,000 euros to the tax authorities, with the threshold assessed on 31 December of the tax year. It must be kept in the final Finance Bill to take effect.
Are USDT and USDC taxed differently from other crypto?
It depends on your country's rules. In many systems, swapping or spending a stablecoin is still a disposal that must be recorded, even if the gain is tiny. France has also approved an amendment targeting gains on stablecoins classed as electronic money tokens under EU rules, though it too must survive the final law.
How is crypto taxed in Germany?
Treatment depends on what you did with the coins, how long you held them and current German law and guidance, which can change. Confirm the latest position with the German tax authorities or a qualified adviser rather than relying on a general summary.
What should I do now to prepare?
Inventory every wallet you control, separate transfers between your own wallets from real disposals, record euro values at 31 December, and keep exchange and wallet histories. That makes it easier to calculate crypto taxes and produce a reliable crypto tax report whatever rules apply.
Source: Cointelegraph Regulation