From Cointelegraph · By Zoltan Vardai
The French Senate adopted a bill to allow tax authorities to automatically exchange crypto transaction data with their foreign counterparts.
The bill passed its first reading on Tuesday and was then transmitted to the National Assembly as Bill no. 3421 for consideration.
The bill covers an agreement on exchanging crypto tax information and an update to an existing agreement on financial account information.
The crypto agreement is based on the Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD). CARF sets common standards for participating jurisdictions to collect and automatically exchange information on crypto transactions.
France already introduced crypto reporting obligations through the 2025 Finance Act, implementing the crypto reporting amendment to the European Union’s Directive on Administrative Cooperation, known as DAC8. The rules require crypto service providers to report customer identities and transaction data to tax authorities, which share the information with authorities in users’ EU countries of residence.
French lawmakers are also debating crypto tax changes in the 2027 budget. The National Assembly adopted an amendment on Oct. 16 that would make gains from conversions into certain fiat-pegged stablecoins taxable from Jan. 1, 2027. The measure is not law yet.
Lawmakers resumed debate on the budget’s revenue section on Tuesday, with a vote scheduled for Nov. 3.
Related: ECB President Christine Lagarde to step down in February 2027
EU’s planned crypto tax repository raises data security, wrench attack concerns
Tax reporting under DAC8 raises data security concerns because it involves sharing personal information, including names, addresses, tax numbers and transaction volumes, between EU tax authorities, Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph.
“In a country where crypto holders have been physically targeted, a leaked list of who trades what, and for how much, is not only a privacy issue but first and foremost a safety issue.”
The European Commission plans to create a central repository for crypto reports by the end of 2026. Each member state’s tax authorities would be able to access information concerning its tax residents.
Fleuret said that centralizing this information could create a “single point of failure” for sensitive crypto transaction data.
Share of wrench attacks by region. Source: CertiK
Fleuret’s remarks follow an alarming rise in physical attacks targeting cryptocurrency investors, also known as wrench attacks. During the first half of 2026, France accounted for 33 of the 52 verified wrench attacks worldwide, according to blockchain security company CertiK.