France crypto-asset tax data exchange implementation

France is advancing legislation to implement the OECD’s Crypto-Asset Reporting Framework (CARF), which aims to facilitate the automatic exchange of cryptocurrency tax information with numerous non-EU jurisdictions. This initiative builds upon the existing European Union DAC8 regime.

Under the proposed framework, Reporting Crypto-Asset Service Providers (RCASP) will be required to collect and verify client identities, tax residency, and tax identification numbers. The data to be exchanged includes user names, addresses, and aggregate transaction values. The French tax authority will receive this information before transmitting it to participating nations, with the first exchanges involving approximately 47 to 48 jurisdictions slated for 2027.

The push for increased oversight follows security concerns in France, including reports of “wrench attacks” and violence linked to cryptocurrency thefts. While the framework seeks to identify tax fraud and evasion, domestic critics have expressed concerns regarding data privacy and the ability to monitor self-custody holdings.