France’s National Assembly Backs Reporting Rule for Large Self-Custody Crypto Wallets

France’s National Assembly Backs Reporting Rule for Large Self-Custody Crypto Wallets

France is advancing stricter crypto oversight through a proposed wallet reporting rule and renewed calls to curb non-euro stablecoin payments under MiCA, reflecting broader regulatory pressure on digital assets.

Fact Check
The claim has two parts, and both are materially supported. First, the National Assembly part is supported by the official Assemblée nationale page "Projet de loi, T.A. n° 263 - Assemblée nationale," which confirms an anti-fraud bill was adopted on 7 April 2026. Search results connected that adopted text to provisions on self-hosted digital-asset wallets above 5,000 euros. Secondary reporting in "France Advances Law Mandating Self Custody Funds' Disclosure," "Bank of France calls for tougher MiCA limits on stablecoin payments," and the PANews article consistently states that the adopted provision would require reporting of self-custody holdings above 5,000 euros and that it is not yet final law. Second, the stablecoin/MiCA part is directly supported by the official BIS-hosted speech "Denis Beau: Stablecoins - what strategic choices for Europe?" In that speech, Beau explicitly says French authorities are pressing for a strengthening of MiCA, particularly to restrict the use of stablecoins for everyday payments when they are backed by a currency other than the euro. That matches the claim's wording about renewed calls to curb non-euro stablecoin payments under MiCA. The main caveat is that the normalized fetch of the Assembly page did not surface the exact clause text in full, so the 5,000 euro detail is corroborated mainly by multiple secondary reports rather than fully visible in the fetched official page. Still, taken together, the evidence strongly supports the overall statement.
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Summary

France is tightening its approach to crypto oversight on two fronts. On April 7, the National Assembly passed an anti-fraud provision that would require annual declarations for self-custody wallets holding more than €5,000 in digital assets, although the bill is not yet finalized. Separately, Cointelegraph reported on April 10 that Banque de France deputy governor Denis Beau urged stricter limits under the EU’s MiCA framework on payments using non-euro stablecoins, with particular concern around foreign-currency tokens such as dollar-pegged stablecoins. Together, the developments indicate broader French regulatory pressure on both crypto monitoring and the use of non-euro digital assets in payments.

Terms & Concepts
  • Self-custody wallet: A crypto wallet where the user controls the private keys directly instead of relying on an exchange or third-party custodian.
  • MiCA: The EU’s Markets in Crypto-Assets framework, which sets regulatory rules for crypto assets and related service providers across the bloc.
  • Stablecoin: A cryptocurrency designed to maintain a stable value, often by being pegged to a fiat currency such as the U.S. dollar or euro.