France advances bill for automatic crypto tax data exchange

France is advancing legislation to implement the OECD’s Crypto-Asset Reporting Framework (CARF), which will enable the automatic exchange of cryptocurrency transaction data with approximately 48 participating nations. The initiative aims to enhance tax transparency and assist authorities in identifying tax fraud and evasion.

Under the proposed framework, exchanged data would include user names, addresses, tax identification numbers, residency, and aggregate transaction values. While the framework targets information gathered during 2026 for exchange in 2027, France is also integrating requirements from the European Union’s DAC8 directive, which covers income from crypto-asset transactions.

The push for increased oversight comes amid security concerns in France, including reports of “wrench attacks” and violence associated with cryptocurrency thefts. Some domestic critics have raised concerns regarding data privacy and the feasibility of monitoring self-custody holdings.