The French Senate adopted without amendments on Tuesday, October 27, bill No. 921 concerning the CARF, which automates the international exchange of data on crypto-holding taxpayers. Platforms will report annually to the tax authority each client’s identity, tax residence, number of transactions, quantities traded and total value per crypto asset, including certain stablecoins, derivatives and NFTs. The first data received in France will cover 2026 transactions in 2027: 46 countries will begin exchanging data in 2027, 27 in 2028 and four in 2029, while the United States has not signed the agreement. The bill creates no new tax, but will make omissions visible, particularly foreign crypto accounts that must be reported on form 3916-bis; annual reporting remains mandatory even for an empty account, with penalties of up to 1,500 euros. The bill must still be reviewed by the National Assembly, which is also considering crypto-related amendments to the 2027 budget.
Source: Read the original article
