France to Share Crypto Tax Data Globally under OECD CARF

France, which signed the OECD’s Crypto‑Asset Reporting Framework (CARF) on 26 November 2024, is preparing legislation to allow automatic exchange of crypto‑asset tax information with dozens of non‑EU jurisdictions. A draft law presented to the Council of Ministers on 27 July would ratify the framework, extending the existing DAC8 regime that already requires French crypto investors to report holdings.

Under CARF, Reporting Crypto‑Asset Service Providers (RCASP) must collect and verify client identity, tax residence, tax‑identification number and, where needed, beneficial‑owner details. The French tax authority will receive this data first and then transmit it to other participating jurisdictions. The first exchanges are slated for 2027 with 47 jurisdictions, followed by 28 more in 2028. Non‑compliance currently carries fines up to €1,500 per undeclared account, and the United States is expected to implement the system only in 2029.