French committee backs disclosure rule for self-custodied crypto over $112K

A tax amendment requiring disclosure of self-custodied cryptocurrency holdings worth more than €100,000 ($112,000) has passed the finance committee of France’s lower house, Cointelegraph reported. The measure would cover crypto held in personal wallets rather than with centralized crypto service providers. Its sponsors said the proposal is intended to curb tax evasion. If the amendment is ultimately enacted, failing to comply with the reporting requirement could result in a fine of up to €10,000. The measure must still be resubmitted and approved through further parliamentary procedures before it can become law.