The French Senate adopted a bill to allow tax authorities to automatically exchange crypto transaction data with their foreign counterparts.

The bill passed its first reading on Tuesday and was then transmitted to the National Assembly as Bill no. 3421 for consideration.

The bill covers an agreement on exchanging crypto tax information and an update to an existing agreement on financial account information.

The crypto agreement is based on the Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD). CARF sets common standards for participating jurisdictions to collect and automatically exchange information on crypto transactions.

France already introduced crypto reporting…