Senate approves tax information agreements

On October 27, 2026, the French Senate passed a bill allowing France to ratify two international agreements related to the automatic exchange of tax information. These agreements are part of efforts to improve transparency in financial transactions, particularly in the digital economy.

Cryptoassets agreement outlines data sharing

The first agreement, signed by France in November 2024 under the Organisation for Economic Co-operation and Development (OECD), establishes rules for sharing information about cryptoasset transactions. It requires service providers to report user identities, tax residences, and transaction details annually.

Financial accounts agreement expands digital coverage

The second agreement updates existing rules for financial account reporting to include new digital products and indirect cryptoasset investments. It strengthens due diligence requirements for financial institutions and focuses on cooperation between tax authorities rather than broad access to digital portfolios.

Implementation timeline set for 2027

According to the Senate report, the first international data exchanges involving France are expected to begin in 2027. This follows preparations in 2026 and builds on existing legal frameworks introduced by the 2025 Finance Act, which already outlined obligations for cryptoasset service providers.

Bill moves to National Assembly

The bill was sent to the National Assembly on October 27, following the Senate's approval. An accelerated legislative process has begun, but the bill still needs to be debated and approved by the second chamber before it can become law.

Senators highlight challenges and benefits

During the Senate debates, senators emphasized the value of receiving data on transactions with foreign financial intermediaries. They also acknowledged the limitations of the agreements, which depend on the participation of other countries and the ability of tax authorities to effectively use the shared information.

56 signatories confirmed for cryptoassets agreement

The minutes from the October 27 session noted that 56 states and territories had signed the cryptoassets agreement at the time of the vote. The actual impact of the agreements will become clearer once the first data exchanges take place in 2027.