France Plans Legislation to Automatically Share Crypto Tax Data with 48 Countries

French Foreign Minister Jean-Noël Barrot submitted Bill No. 921 to the Senate on July 17, proposing to incorporate the Crypto Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD) into French law and to automatically exchange crypto data with 48 countries that have signed relevant agreements. The exchanged information includes specific transactions, user names, addresses, tax identification numbers, residences, and the cumulative transaction value during the reporting period. EU member states are preparing to initiate relevant data exchanges under the DAC-8 directive, which will take effect on September 30, 2027. Once the bill is approved, the French government will accelerate the collection of crypto data. A report by Chainalysis indicates that by 2026, France has recorded 30 publicly known violent robberies involving crypto assets; the report also states that a tax official in the Paris region is suspected of selling data on high-net-worth crypto holders.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.