French Senate Passes Bill on Automatic Exchange of Tax Information for Crypto Assets

The French Senate has passed a bill in its first reading, authorizing tax authorities to automatically exchange cryptocurrency transaction data with foreign counterparts. The bill, numbered 3421, will be submitted to the National Assembly for review and is pending completion of the legislative process. This legislation covers the tax information exchange protocol for crypto assets and updates the existing financial account information exchange protocol. The crypto asset section is based on the Crypto Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD), setting common standards for jurisdictions to collect and automatically exchange cryptocurrency transaction information. France has implemented the eighth amendment to the EU Administrative Cooperation Directive (DAC8) through the 2025 Finance Bill, requiring crypto service providers to report customer identities and transaction data to tax authorities, which will then share this information with the EU country where the user resides. French lawmakers are also discussing adjustments to crypto taxes in the 2027 budget. An amendment passed by the National Assembly on October 16 proposes to tax gains from converting stablecoins pegged to specific fiat currencies starting January 1, 2027, but this measure has not yet become law.

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