France Advances €100,000 Crypto Disclosure Proposal

France’s National Assembly Finance Committee has advanced a proposal requiring residents to disclose self-custodied crypto holdings worth at least €100,000, or about $112,000, at the end of the year. People who fail to report qualifying assets could face fines of up to €10,000, equivalent to about $11,000. The measure has not become law and may still be amended as it moves through the legislative process. The proposal has drawn warnings from crypto privacy advocates.