Roger on Nostr: France's finance committee just adopted an amendment that would make self-custodied ...

France's finance committee just adopted an amendment that would make self-custodied crypto above €100,000 a yearly declaration, with a penalty up to €10,000 for staying quiet. Hours later the same committee voted down the entire revenue section of the 2027 budget. Dead text, for now. The direction is another matter.

Look at what the rule asks for. Not a share of your gains: a map of your holdings. Anything parked at a broker is already on the books. One blind spot remains, a wallet with no intermediary, and that is the spot the amendment was written to close.

A declaration rule is the cheapest control ever invented. It costs almost nothing to enforce and turns every holder into an unpaid bookkeeper. It also drops the illusion that ownership is private. A thing you must report on a fixed date is a thing the state already treats as its business.

Keys keep no calendar.