France proposes mandatory disclosure of funds over €5,000 in self-custody wallets
In France, there is a proposal to require users to disclose funds exceeding €5,000 held in self-custody cryptocurrency wallets such as MetaMask, Phantom, and Ledger, even though tax authorities currently cannot verify this information.
Source News bitcoin
This initiative aims to strengthen control over crypto assets stored in personal wallets, where users hold their private keys without intermediaries.
Currently, French tax authorities lack effective means to verify funds held in such wallets, prompting legislators to consider mandatory voluntary disclosure.
MetaMask, Phantom, and Ledger are well-known cryptocurrency wallets that provide secure storage and full user control over digital assets.
The proposal represents a possible first step toward tighter crypto regulation in Europe, enhancing transparency and combating tax evasion.
Looking ahead, additional restrictions or obligations for crypto wallet users may be introduced, potentially reshaping the digital assets market.
