French lawmakers have backed a proposal aimed at people who hold crypto in their own wallets instead of leaving it with a custodian. Anyone whose self-custodied holdings are worth 100,000 euros (about $112,000) or more would have to declare them. Cointelegraph reported the news on Oct 12, 2026.
Holders who do not declare qualifying assets could be fined up to 10,000 euros. The rule applies at the 100,000-euro threshold and above. As reported, holdings below that level are not covered.
The report calls this a proposal that lawmakers have backed, not a law already in force. It does not say when the rule would take effect, whether more votes are needed, how holdings would be valued against the threshold, or how authorities would check declarations.
For someone with an open perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The rule as described covers self-custodied assets, and perp positions are held on the exchange. Nothing in the report touches funding rates, trading fees or order book liquidity on these venues.
Source: cointelegraph — French lawmakers back reporting rule for crypto wallets over $112K