French Senate Approves CARF Crypto Tax Data Exchange

France's Senate on Tuesday, Oct. 27, adopted in first reading a bill authorizing the country to approve two international tax agreements. The first implements CARF, the framework for automatic exchange of crypto-asset information between tax authorities; the second updates the existing mechanism for traditional financial accounts. The text now goes to the National Assembly.

Details

According to the Senate's bill page, the bill ratifies multilateral agreements on automatic exchange of information. Cointelegraph and Cryptoast report that 77 jurisdictions have committed to implementing CARF. Tax authorities will swap data annually, within nine months after the end of the year concerned.

The exchange covers each user's identity, tax residence, tax ID number, the number of transactions, quantities and total value, grouped by asset and category. First transmissions are planned for 2027. In France, platforms are already collecting customer data under the EU's DAC8 directive (since Jan. 1, 2026, per Cryptoast). The sources do not give the vote tally.

What this means for the market

For users of French and other European platforms, it is another step toward tax authorities seeing crypto activity across borders. The vote has no direct price impact, but it reinforces the trend toward reporting transparency.

The bill still has to clear the National Assembly. Separately, lawmakers are debating crypto taxes in the 2027 budget; earlier they backed a tax on crypto-to-stablecoin swaps. For the live bitcoin price, see the daily brief.