A new amendment from the Communist Party, which got backing from the Central Bloc, has been approved by a committee in the French National Assembly. This new rule would require anyone with self-hosted crypto wallets to report them to the tax authorities.
No freedom in France.
What specifically requires declaration? Is it every address generated by the wallet, or just the transactions?
In Russia, for example, miners must declare the addresses used for receiving mining rewards. They are prohibited from receiving funds on other addresses, which simplifies income control.
But regular users in Russia must declare specific cryptocurrency amounts as personal property in advance to receive judicial protection. This is the only way the crypto is considered legally owned by an individual.
And why are the French Communists proposing this declaration? What's their rationale?
I read that in Russia more than half of mining is illegal and unregistered
I live in Russia, and if I had a large amount of cryptocurrency, I'd be afraid to declare it. There's a very high risk that this information will become known to criminals.
Only legitimate exchangers do this; ordinary people who have $1,000-$10,000 or a little more in cryptocurrency don't.
We know that France has implemented and treated crypto users with very strict laws and regulations, they have a legal system that is currently operating against the ownership of crypto assets, For those who do not comply with existing laws in France, they will be subject to quite large fines.
Although the strict rules in force that are reported may be a threat to French society, but for me if the tax authorities put them in a legal position, I think the laws and regulations are reasonable.
I communicate with several Russians living in Europe. There's also a well-developed underground cryptocurrency exchange market there, where you can exchange crypto for cash.
Here's a link to over 30 reputable exchangers in Paris.
https://www.bestchange.ru/bitcoin-to-euro-cash-in-paris.html
I don't give any guarantees, the information needs to be verified, but crypto users don't have any particular problems