Tax law and cryptocurrencies: from January 2026, the privacy settings of crypto exchanges will undergo major changes. With the enforcement of the European DAC8 directive, all centralized platforms, whether major neobanks or global exchange services, will be required to automatically transmit user data to the tax authorities. This marks an important shift for investors and for digital tax-law frameworks.
Tax law and cryptocurrencies: Consequences for users
This directive was designed to harmonize the EU’s crypto tax rules and to strengthen the fight against fraud. In practice, once implemented, all crypto companies dealing with
European clients will be required to:
- provide users’ identity data,
- report all information related to completed transactions,
- notify transfers, deposits, and withdrawals.
In other words, tax authorities will no longer need to request records, as they will receive them directly from the platforms. This comes in addition to already strict verification procedures, such as KYC (Know Your Customer).
Tax law and cryptocurrencies: Tax authorities can go back in time
Although automatic reporting will only begin in 2026, tax authorities may use this data to review previous years. As a result, investors who failed to declare certain accounts or transactions could be subject to tax reassessments.
The sanctions intended in cases of non-declaration can be severe. In France, crypto holders are required to:
- report taxable capital gains,
- declare all their accounts on foreign platforms
Tax law and cryptocurrencies: Non-declaration of a foreign account
All open crypto accounts, whether active, inactive, or closed, on platforms based outside France must be declared using the 3916-3916 bis form. In case of omission:
- a €750 fine per account,
- up to €1,500 if the account value exceeds €50,000 during the year,
- €125 to €250 per omission or incorrect information,
- a possible tax reassessment.
Non-declaration of capital gain
Taxable transactions, such as exchanging crypto for legal-tender currency or purchasing any goods or services using crypto, must be reported using the 2086 form. In case of omission, penalties increase progressively:
- 10% in the event of a delay or unintentional error,
- 40% in the event of deliberate non-compliance,
- 80% in cases of fraud or intentional manipulation.
In the most serious cases, criminal penalties may apply, reaching up to a three-million-euro fine and seven years of imprisonment.
The exemption threshold of 305 € : what you need to know
French tax law stipulates that if the total taxable disposals in a year are below €305, capital gains are not taxable. However, this threshold:
- applies to the entire tax household, not each individual,
- is strict: exceeding it makes all gains taxable.
For example, if you sell €300 worth of crypto in a year, you are not taxable. But if you reach €306, all your gains become taxable. And even if you remain below this threshold, you are still required to report them.
What transactions have to be taken into account ?
Calculating capital gains is complex. It is essential to know the total value of your wallet at the time of each disposal and to take into account:
- income from staking, lending, and mining,
- NFT valuation and sales,
- rewards from play-to-earn games,
- airdrops and other crypto distributions.
Crypto-to-crypto exchanges are not taxable, but they are included in the calculation of your wallet’s total value.
Key dates for tax filling
For the 2024 income declaration, here are the major deadlines:
- April 10, 2025: opening of online filings,
- May 20, 2025: deadline for paper declarations,
- May 22, 2025: online deadline for the first zone (départements 01 to 19 and non-residents),
- May 28, 2025: online deadline for the second zone (départements 20 to 54),
- June 5, 2025: online deadline for the third zone (départements 55 to 974/976).
Respecting these deadlines is important to avoid penalties.
Conclusion: a key step for the crypto ecosystem
With the DAC8 directive coming into effect, cryptocurrencies can no longer be seen as entirely disconnected from political authorities. They are now integrated into the traditional tax system.
For investors, the message is clear: think ahead, keep proper records, and report all accounts and transactions to avoid any sanctions. Vigilance and discipline therefore become essential to navigate the world of digital assets with confidence.
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