Cryptoupdated 1h ago2 min read
Archive photo · 7 April 2014France Senate Adopts Bill 3421 For Automatic Crypto Tax Data Sharing Via CARF
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Senate approved Bill No. 921/3421 authorizing automatic exchange of crypto tax data with foreign authorities. It would link domestic crypto tax reporting to international data-sharing arrangements under CARF/OECD framework.
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Senate OKs CARF data sharing
France’s Senate adopted a bill authorizing the automatic exchange of crypto-asset tax information between international tax authorities, pending completion of the legislative process.
The bill passed its first reading on Tuesday and was transmitted to the National Assembly as Bill no. 3421 for consideration.
The measure covers an agreement on exchanging crypto tax information and an update to an existing agreement on financial account information, with the crypto agreement based on the OECD’s Crypto-Asset Reporting Framework (CARF).
France already introduced crypto reporting obligations through the 2025 Finance Act, implementing the crypto reporting amendment to the European Union’s Directive on Administrative Cooperation, known as DAC8.
The National Assembly adopted an amendment on Oct. 16 that would make gains from conversions into certain fiat-pegged stablecoinstaxable from Jan. 1, 2027, but the measure is not law yet.
Security fears and wrench attacks
Faustine Fleuret, global head of public affairs at lending protocol Morpho, told Cointelegraph that centralizing crypto tax reports could create a “single point of failure” for sensitive crypto transaction data. Fleuret said tax reporting under DAC8 involves sharing personal information, including names, addresses, tax numbers and transaction volumes, between EU tax authorities. CertiK said that during the first half of 2026, France accounted for 33 of the 52 verified wrench attacks worldwide.
A March incident described in the sources said criminals posing as police officers robbed a French couple in their late 50s of about $1 million worth of Bitcoin. Cointelegraph also tied the legislative move to data security concerns because it involves sharing personal information between EU tax authorities.
Next steps for implementation
The bill’s Senate approval still left the National Assembly as the next legislative step before the exchange arrangements could be finalized. The sources said the crypto information exchange is based on CARF, which sets common reporting standards for participating jurisdictions to collect and automatically exchange information on crypto transactions. The Cryptonomist said the initial CARF exchanges are planned for 2027 across 46 jurisdictions, and it listed France, Germany, the UK, Japan and Canada among the expected participants.
Digital Watch Observatory said 77 jurisdictions have committed to implementation by 2027, 2028 or 2029, expanding the reach beyond the initial group. The sources also described that France began collecting domestic crypto data under DAC8 on January 1, 2026, with the first DAC8 exchanges covering information from 2026 due by September 30, 2027.