France is pushing forward with amendments requiring citizens to declare the exact market value of their self-custodied cryptocurrencies.

France has moved forward with Amendment No. 1649AC, requiring citizens to declare the exact market value of their self-custodied cryptocurrencies, even if no taxable transactions have occurred. Critics warn that the measure is an undue invasion of privacy and could create a dangerous “data honeypot” containing names, addresses, and precise balances of crypto assets.