In 2025, the global amount of cryptocurrency activity that could be taxed reached $457 billion, according to a report by Chainalysis, a company that specializes in analyzing blockchain transactions. In Europe, $125 billion of this activity was recorded, with France contributing $9.4 billion. This includes $1.7 billion from income generated through mining and staking, $2.5 billion from capital gains, and $5.2 billion from payments made using cryptocurrency. François Volpoet, the general director of Chainalysis in France, explained that a large portion of cryptocurrency activity is not captured by tax authorities, even in countries like France. Despite the relatively lenient tax rules in the crypto sector, non-compliance rates are high, often exceeding 90%. In France, cryptocurrency exchanges between different types of crypto or their use for real-world purchases are not taxed. For the 2023 tax year, 7,700 taxpayers reported capital gains of €150.8 million from selling cryptocurrencies. For the 2024 tax year, 24,000 taxpayers declared capital gains totaling €368 million. These figures will be released in full later this year for the 2025 tax year. For several years, French taxpayers have been reporting substantial capital gains from cryptocurrency transactions, although these amounts have not reached the billions. In 2021, 20,000 taxpayers declared €400 million in net capital gains from crypto. During the same period, over $4 billion (approximately €3.7 billion) in cryptocurrency transactions were recorded in France, according to Chainalysis. Starting in 2027, tax authorities will have access to all transactions on crypto platforms registered in the European Union, provided those platforms were used since January 1, 2026. This is due to the DAC 8 directive and the CARF framework from the OECD, which aim to improve tax transparency. However, these regulations primarily cover transactions on crypto exchanges, not those made through self-custody wallets, which many users prefer. This means that while tax authorities will get a clearer view of taxable activities, they will still miss a significant portion of crypto transactions. François Volpoet also pointed out a paradox: while tax authorities want more information on cryptocurrency holders, they are themselves vulnerable to cyberattacks. In August, France's tax agency, DGFiP, confirmed that the personal data of over 678,000 taxpayers were exposed in a major hacking incident. This has led to a lack of trust, which could make some cryptocurrency users more reluctant to comply with new reporting rules, despite the goal of these regulations being to increase transparency and tax compliance.