France advances bill to share crypto tax data with 48 countries

France introduced a bill to implement the OECD’s Crypto-Asset Reporting Framework (CARF), allowing automatic exchange of cryptocurrency user data with 48 countries. The proposal was presented to the Senate on July 17 by Jean-Noël Barrot, Minister for Europe and Foreign Affairs, as text 921.

The bill would enshrine the CARF multilateral agreement in French law. The agreement, signed by participating jurisdictions in Paraguay in November 2024, would permit the exchange of transaction records and user information between tax authorities. Data to be shared includes transaction details, user names, addresses, tax identification numbers, country of residence and the aggregate value moved during reporting periods.

The measure would extend automatic information sharing beyond the European Union. EU member states are preparing to exchange similar crypto data under the DAC-8 directive, which takes effect on September 30, 2027. The CARF bill would allow France to exchange crypto information with jurisdictions outside the EU that joined the CARF agreement.

French authorities describe the framework as intended to reduce tax evasion linked to crypto activity by giving tax administrations clearer records of where assets and payments originate and where they end. If adopted, the law would allow routine exchanges of the specified data with the 48 participating countries.

The proposal has prompted privacy and security concerns among cryptocurrency users and some lawmakers. Critics have raised questions about the volume of personal data to be shared internationally and how that data will be protected after transfer across borders.

French law enforcement logged at least 30 publicly reported “wrench attacks” through 2026, incidents that include violent thefts and home invasions tied to crypto holdings. Investigations into some of those crimes cite an alleged case in the Paris area where a tax official sold data on wealthy crypto owners, which authorities say contributed to the surge in attacks.

Earlier this year, a separate proposal that would have required individuals to report self-custodied crypto holdings to tax authorities was abandoned after deputies concluded it would be impractical to verify such declarations. The CARF bill relies on reporting by intermediaries and on cross-border data sharing to build taxable records.

The bill must pass parliamentary review and be adopted into law before exchanges under CARF can begin. If approved, France would join other countries using international tax-reporting tools to trace crypto flows and support domestic tax compliance efforts.