France Crypto Wallet Reporting Plan for Holdings Over €100K Draws Backlash

The threshold-based reporting model matters less for tax collection than for the precedent it sets: France would effectively create a registry of large self-custody holders, a category no other major jurisdiction has yet tried to enumerate this way. The industry's safety objection is unusually concrete rather than ideological, given the wrench-attack wave cited, and it reframes the debate from privacy to physical risk — a harder argument for regulators to dismiss. The open question is whether the threshold survives at that level or becomes a broader disclosure regime once the principle is accepted.