"The article that established a duty to report the contents of cryptocurrency portfolios over 5,000 held under self-custody to the DGFIP was removed from a law project against fraud."
"Adan celebrated this outcome, stressing that they had been taking action since last November to defend their position before administrative bodies, government offices, and deputies."
"Labaronne argued that it would not be feasible for the agency to check the veracity of the information provided by taxpayers."
"Scrapping the 5,000 reporting rule avoids future attacks fueled by leaked tax data, notes Telegram's CEO."
The French National Assembly has eliminated a requirement for taxpayers to report self-custody cryptocurrency holdings exceeding 5,000 euros. This decision is seen as a victory for the cryptocurrency sector in France, which has faced significant security challenges. Adan, a French organization advocating for cryptocurrency, expressed satisfaction with the outcome, emphasizing the risks associated with mandatory disclosures. The removal of this requirement aims to prevent potential attacks fueled by leaked tax information, as highlighted by Telegram's CEO.
Read at news.bitcoin.com
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