The Senate adopted in first reading a bill authorizing France to approve two international tax agreements, including an automatic exchange framework for crypto assets called CARF. Platforms will have to report conversions between cryptocurrencies and traditional currencies, crypto-to-crypto exchanges and customer transfers, including identities, quantities exchanged and corresponding values. The first transmissions are expected in 2027, while 77 jurisdictions have committed to implementing the framework progressively. The agreements create no additional taxes, but data collection has already begun in France under the European DAC8 directive. Taxpayers remain subject to their reporting obligations, including the annual declaration of crypto accounts opened abroad using form 3916-bis.
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