French Senate Advances Automatic Crypto Tax Data Sharing Bill

The French Senate has adopted a bill that would enable the automatic exchange of crypto-asset tax information between international tax authorities. The measure, which still requires further legislative steps before becoming law, aims to close loopholes that allow crypto investors to hide assets across borders. If finalized, France would join a growing list of jurisdictions cooperating to track digital asset transactions for tax purposes. The bill authorizes France to share and receive data on crypto holdings and transactions with partner countries automatically, without the need for individual requests. This would streamline enforcement and make it harder for taxpayers to underreport crypto gains. The exact scope of data to be exchanged, such as wallet addresses and transaction histories, will be defined in subsequent regulations. Industry observers note that this aligns with broader European and OECD efforts to standardize crypto tax reporting, including the Crypto-Asset Reporting Framework (CARF). For crypto users in France, the development signals increased scrutiny and the need for meticulous record-keeping. The bill now moves to the National Assembly for further consideration, with implementation expected in the coming years.