France plans to legislate for the automatic sharing of encrypted tax data with 48 countries

On July 17, French Foreign Minister Jean-Noël Barrot submitted Bill No. 921 to the Senate, proposing to incorporate the Crypto Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD) into French law and to automatically exchange encrypted data with 48 countries that have signed related agreements.

The exchanged information includes specific transactions, user names, addresses, tax identification numbers, places of residence, and the cumulative transaction value during the reporting period. EU member states have prepared to conduct relevant data exchanges based on the DAC-8 directive, which will take effect on September 30, 2027. After the bill is approved, the French government will accelerate the collection of encrypted data. A Chainalysis report indicates that by 2026, France had recorded 30 publicly known violent robberies of crypto assets; the report states that a tax official in the Paris region is suspected of selling data on high-net-worth crypto holders.