France Seeks Automatic Exchange of Crypto Data With New Bill

France is tightening its oversight over crypto users, seeking to gain a larger degree of control and visibility on crypto operations.

On July 17, Jean-Noël Barrot, the French Minister for Europe and Foreign Affairs, introduced text 921 in the Senate, seeking the implementation of a multilateral agreement to enable the automatic exchange of information as part of the Crypto-Asset Reporting Framework (CARF) developed by the Organization for Economic Co-operation and Development (OECD).

The bill seeks to enshrine the CARF framework as law in France, enabling the exchange of specific crypto information with 48 countries that also subscribed to the agreement signed in Paraguay in…