CoinWorld.net April 9 news: According to Cryptopolitan, the French National Assembly has passed a bill to combat social and tax fraud, requiring cryptocurrency holders to report to tax authorities self-custodied wallets holding digital assets exceeding 5,000 euros. The bill has passed its first reading in the National Assembly and still requires review by the Senate and approval by the joint committee. It is expected that the related reporting obligations and monitoring mechanisms may officially take effect by the end of 2026 or early 2027. In 2025, the French tax authorities increased the reporting amount by 249 million euros, collecting more than 17 billion euros in taxes and fines; crypto assets will be included in the monitoring mechanisms to further enhance investigative capabilities. Taxpayers should prepare in advance for greater transparency of digital assets, or face penalties comparable to those for undeclared work or unreported overseas bank accounts.