France's government has introduced a bill that would automatically exchange cryptocurrency activity data with 48 countries outside the European Union, a move aimed squarely at tax evasion. Foreign Minister Jean-Noël Barrot presented the legislation, which would extend the kind of data-sharing already common within the EU to a much wider network of nations. If passed, it would give French tax authorities a direct line to crypto holdings that currently sit beyond the bloc's reporting net.
A data-sharing push beyond the EU
The bill would allow French authorities to automatically swap information on crypto holdings with those 48 non-EU jurisdictions. That's a significant expansion from the current setup, where such exchanges typically happen only within the bloc. Automatic exchange works on a schedule — tax authorities send and receive data without needing to file individual requests. The idea is to close the gap that lets people park crypto assets in countries with looser reporting rules.
The tax evasion angle
Barrot's stated purpose is to curb tax evasion. By making crypto activity data flow automatically across borders, tax authorities would get a clearer picture of what citizens own, even when the assets sit in foreign exchanges or wallets. It's a direct response to the difficulty of tracking digital assets that don't move through traditional banks. The 48 countries would be added to the automatic exchange network, giving Paris a broad new tool for enforcement.
The bill now moves to the French parliament, where it will go through committee review and debate. There's no fixed date for a vote, and amendments are possible. The government's backing gives it momentum, but the legislative calendar is unclear. Barrot's involvement — he oversees foreign affairs — signals this is as much about international cooperation as domestic tax collection. If the bill passes, France would be among the more aggressive EU members on cross-border crypto data sharing.
