French Lawmakers Back Crypto Wallet Reporting Rule
French lawmakers have backed a proposal requiring holders to declare self-custodied crypto worth at least 100,000 euros.
French lawmakers have backed a proposal that would require holders to declare self-custodied cryptocurrency worth at least 100,000 euros (approximately $112,000), according to Cointelegraph. The measure aims to increase oversight on digital asset holdings.
Legislative Process
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While the reporting measure has gained backing from lawmakers, the proposal still needs to pass several remaining legislative hurdles before it can be formally enacted into law.
Key Facts
- Lawmakers in France backed a self-custodied crypto reporting proposal.
- The reporting threshold is set at 100,000 euros.
- The measure requires further legislative steps to pass.
Source: cointelegraph.com
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