"The French National Assembly passed an article establishing that funds held in self-hosted wallets should be disclosed to the DGFIP when they account for over 5,000 euros."
"Deputy Daniel Labaronne opposed the inclusion of this article in the law, arguing it would be impossible for the DGFIP to ascertain the ownership of these assets."
"The DGFIP warned about the effects of such a measure on the security of French citizens, as the country is a hotbed for wrench attacks."
"Gregory Raymond predicts that this rule will probably fail, as the government is hostile towards it."
The French National Assembly enacted a law mandating the disclosure of funds over 5,000 euros in self-hosted wallets to the DGFIP. This regulation targets wallets like Metamask and Ledger. Deputy Daniel Labaronne criticized the law, stating the DGFIP lacks the means to verify ownership of these assets. Despite opposition, the measure was approved as part of anti-fraud efforts. The DGFIP cautioned that this requirement could increase the risk of hacking for users, as the agency has no verification tools.
Read at news.bitcoin.com
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