The French Senate passed the bill on automatic exchange of cryptocurrency tax data

According to Cointelegraph, the French Senate has passed a bill authorizing the tax authorities to automatically exchange cryptocurrency transaction data with tax authorities in other countries. The bill completed its first reading on Tuesday and has been submitted to the National Assembly as Bill No. 3421 for review. The bill covers a cryptocurrency tax information exchange agreement and updates to the existing financial account information agreement, with the entire legislative process still needing to be completed.

The cryptocurrency information exchange agreement is based on the Cryptocurrency Asset Reporting Framework (CARF) established by the Organization for Economic Cooperation and Development, setting common standards for participating jurisdictions to collect and automatically exchange cryptocurrency transaction information. France has introduced a cryptocurrency reporting obligation through the 2025 Finance Law, implementing the cryptocurrency reporting amendment in the EU Administrative Cooperation Directive DAC8, which requires cryptocurrency service providers to report customer identities and transaction data to tax authorities, who will then share this information with the tax authorities in the EU countries where the users are located.

French lawmakers are also discussing adjustments to cryptocurrency taxation in the 2027 budget. The National Assembly passed an amendment on October 16, proposing to tax gains converted to partially pegged fiat stablecoins starting January 1, 2027; this measure has not yet become law, with a related vote scheduled for November 3.

Faustine Fleuret, Global Head of Public Affairs at the lending protocol Morpho, stated that tax reporting under DAC8 involves sharing personal information such as names, addresses, tax numbers, and transaction volumes, raising data security concerns; the European Commission plans to establish a central repository for cryptocurrency reporting by the end of 2026. She also mentioned that in France, where cryptocurrency holders have been subject to personal attacks, the leakage of trader lists is primarily a security issue. CertiK data shows that out of 52 verified personal attack incidents globally in the first half of 2026, France accounted for 33.