France faces $9.4 billion in estimated taxable crypto activity

Chainalysis estimates that France will generate approximately $9.4 billion in potentially taxable cryptocurrency activity in 2025. This figure includes $5.2 billion in crypto payments, $2.5 billion in realized capital gains, and $1.7 billion in income from activities such as mining and staking.

There is a significant gap between estimated activity and reported figures. For the 2024 tax year, French taxpayers reported approximately €368 million in net gains through roughly 24,000 filings. This follows a 2023 reporting period where only about 7,700 taxpayers declared €150.8 million.

To address reporting gaps, the European Union’s DAC8 directive will require crypto service providers to collect extensive user data and transaction records starting January 1, 2026. The first international data exchanges under this framework are scheduled for September 30, 2027. France currently taxes net capital gains from digital asset disposals at a flat rate of 31.4%, with a small annual exemption for disposals under €305.