Key Takeaways
- • France's National Assembly Finance Committee adopted three crypto tax amendments on October 7-9, 2026, but rejected the revenue section of the 2027 Finance bill 31 to 3, meaning the amendments must be resubmitted before becoming law.
- • Amendment I-CF821 would require taxpayers to declare self-custody crypto wallets valued at €100,000 ($111,888) or more as of December 31, with penalties of up to €10,000 ($11,188) for non-compliance.
- • Amendments I-CF1826 and I-CF1822 would remove the tax deferral on certain crypto-to-stablecoin conversions and apply an exit tax to unrealized gains on digital asset holdings above €800,000 ($895,104), both from January 1, 2027.
- • Thailand's SEC issued crypto ETF rules on October 8, 2026, effective October 16, permitting only BTC and Ether ETFs initially.
- • Thai crypto ETFs must maintain average net exposure of at least 80% of net asset value to a single asset, list exclusively on the Stock Exchange of Thailand, and use SEC-regulated custodians.
Summary
France is weighing expanded disclosure and taxation requirements for digital asset holders as part of the proposed 2027 Finance bill, according to CoinGeek. The Finance Committee of the French National Assembly adopted all three digital currency amendments, but subsequently rejected the bill's revenue section by a vote of 31 to 3. Because the amendments were part of that failed section, they did not carry over to the broader bill, which was scheduled for examination by the National Assembly on October 13. Backers will need to table them again to secure inclusion in the final draft.
Amendment I-CF821, tabled by Charles de Courson of the centrist Libertés group, would require taxpayers to declare self-custody wallets, meaning those not maintained by a crypto-asset service provider (CASP), when their total value reaches €100,000 ($111,888) or more at December 31 of the relevant tax year. The committee adopted it on October 9. Penalties of up to €10,000 ($11,188) apply for non-compliance. The measure would extend tax reporting beyond assets held through intermediaries.
Amendment I-CF1826, adopted October 7, would remove the existing tax deferral on exchanges in which a taxpayer receives qualifying fiat-backed stablecoins, bringing certain crypto-to-stablecoin conversions within the capital gains calculation from January 1, 2027. Amendment I-CF1822, adopted October 8, would extend France's exit-tax framework to unrealized gains on qualifying digital currency holdings. It would apply where the taxpayer has been a French tax resident for at least six of the preceding ten years and household digital asset holdings exceed €800,000 ($895,104) when residence is transferred abroad, with a proposed start date of January 1, 2027.
In Thailand, the SEC issued regulations on October 8 establishing a framework for digital currency ETFs, stating the rules aim to "broaden investment opportunities for investors, enhance the capabilities of business operators, and promote the crypto ETF ecosystem under an appropriate investor protection framework." Digital currency ETFs must comply with rules applicable to standard ETFs, plus an average net exposure requirement of at least 80% of net asset value to a single digital asset each accounting year. Asset management companies must demonstrate organizational readiness, and investors must complete mandatory education and acknowledge the risks before trading. Mutual funds and private funds may now invest in locally issued digital currency ETFs, subject to existing investment limits. During the initial phase, the SEC will prohibit depository receipts referencing foreign digital currency ETFs and restrict securities companies from facilitating foreign digital currency ETF investments for clients who are neither institutional investors nor ultra-high-net-worth investors.
Taken together, the French proposals target current holdings and disclosure, while Thailand is widening regulated access to digital assets, illustrating the divergent regulatory approaches facing digital asset investors and the institutions offering them.
Amendment I-CF821, tabled by Charles de Courson of the centrist Libertés group, would require taxpayers to declare self-custody wallets, meaning those not maintained by a crypto-asset service provider (CASP), when their total value reaches €100,000 ($111,888) or more at December 31 of the relevant tax year. The committee adopted it on October 9. Penalties of up to €10,000 ($11,188) apply for non-compliance. The measure would extend tax reporting beyond assets held through intermediaries.
Amendment I-CF1826, adopted October 7, would remove the existing tax deferral on exchanges in which a taxpayer receives qualifying fiat-backed stablecoins, bringing certain crypto-to-stablecoin conversions within the capital gains calculation from January 1, 2027. Amendment I-CF1822, adopted October 8, would extend France's exit-tax framework to unrealized gains on qualifying digital currency holdings. It would apply where the taxpayer has been a French tax resident for at least six of the preceding ten years and household digital asset holdings exceed €800,000 ($895,104) when residence is transferred abroad, with a proposed start date of January 1, 2027.
In Thailand, the SEC issued regulations on October 8 establishing a framework for digital currency ETFs, stating the rules aim to "broaden investment opportunities for investors, enhance the capabilities of business operators, and promote the crypto ETF ecosystem under an appropriate investor protection framework." Digital currency ETFs must comply with rules applicable to standard ETFs, plus an average net exposure requirement of at least 80% of net asset value to a single digital asset each accounting year. Asset management companies must demonstrate organizational readiness, and investors must complete mandatory education and acknowledge the risks before trading. Mutual funds and private funds may now invest in locally issued digital currency ETFs, subject to existing investment limits. During the initial phase, the SEC will prohibit depository receipts referencing foreign digital currency ETFs and restrict securities companies from facilitating foreign digital currency ETF investments for clients who are neither institutional investors nor ultra-high-net-worth investors.
Taken together, the French proposals target current holdings and disclosure, while Thailand is widening regulated access to digital assets, illustrating the divergent regulatory approaches facing digital asset investors and the institutions offering them.
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