French lawmakers back reporting rule for crypto wallets over $112,000
CIE News ·
French lawmakers have backed a proposal to require disclosures for crypto wallets holding over 100,000 euros, Cointelegraph reported. Non-compliant holders could face fines up to 10,000 euros.
French lawmakers have backed a proposal that requires individuals to report self-custodied crypto holdings exceeding 100,000 euros, or roughly $112,000, according to Cointelegraph. Under the proposed measure, asset holders who fail to declare qualifying balances face fines of up to 10,000 euros. The proposal must still clear additional legislative hurdles before it can take effect.