Gap between crypto transaction estimates and tax declarations in France

Billions of crypto activities compared to a few hundred million declared. According to Chainalysis, potentially taxable transactions carried out in France in 2025 would have reached $9.4 billion. At the same time, the General Directorate of Public Finances (DGFiP) indicates that 24,000 taxpayers declared 368 million euros in net capital gains during the 2025 campaign, relating to 2024 income. The difference seems spectacular, but the two figures are not directly comparable: they do not concern the same year or the same base. It nevertheless shows the scale of the challenge that the French tax authorities intend to respond to thanks to DAC 8 and the automatic sharing of crypto data.

Crypto: $9.4 billion potentially taxable in France

Chainalysis's estimate includes $2.5 billion in capital gains, $1.7 billion in revenues notably from mining and staking, as well as $5.2 billion in payments made in cryptocurrencies.

These 9.4 billion therefore do not correspond to gains hidden from the tax authorities. The amount of a payment is not equal to the taxable capital gain it generates, while income from mining or staking may fall under different tax regimes depending on their nature and the conditions of the activity.

Moreover, contrary to what BFM states in its article, the purchase of a good or service with cryptocurrencies constitutes a taxable transfer in France. The exchange between two digital assets, on the other hand, benefits from a tax deferral for individuals, while simple holding is not taxed. Transfers also benefit from an exemption when their total annual amount does not exceed 305 euros. If all this seems confusing to you, find our guide on this subject.

However, DGFiP data shows a clear increase in declarations. For 2023 income, around 7,700 taxpayers had declared 150.8 million euros in net capital gains. A year later, there were 24,000 of them declaring 368 million euros.

DAC 8 will give the tax authorities new information from 2027

Since January 1, 2026, the European directive DAC 8 requires relevant crypto providers to collect information on their users and their operations. This first data, covering the year 2026, must be transmitted and then exchanged between tax administrations in 2027.

The tax authorities will thus be able to reconcile the identity of taxpayers, their tax residence and the transactions declared by the platforms. The CARF (Crypto-Asset Reporting Framework) developed by the OECD should gradually extend this cooperation to many jurisdictions outside the European Union.

However, this monitoring does not automatically cover all activities. Exchanges carried out directly between self-hosted wallets, without going through a reporting service provider, remain outside the scope of immediate collection. They are not invisible, however: public transactions recorded on blockchains can be tracked as soon as an address is linked to an identity or a platform.