France advances an amendment requiring citizens to declare the exact market value of their self-custodied cryptocurrencies

According to Bitcoin News, France has advanced Amendment No. 1649 AC, which requires citizens to declare the exact market value of their self-custodied cryptocurrencies, even if no taxable transactions have occurred.

Critics warn that the measure is an improper invasion of privacy and will create a dangerous "data honeypot" containing names, addresses, and precise cryptocurrency asset balances.