Crypto: Paul Midy opposes wallet declaration from €5,000

French Renaissance MP Paul Midy has pushed back against a proposed requirement that crypto users declare their self-hosted wallets once holdings or transaction volumes reach €5,000, arguing the threshold would burden ordinary retail holders. The measure surfaced as an amendment to France's 2027 budget process, where lawmakers are debating how aggressively to extend reporting duties to non-custodial wallets. Midy's position matters because France has positioned itself as a crypto-friendly jurisdiction under the MiCA framework, and a low declaration trigger could set a precedent other EU states cite when drafting their own rules. The outcome of the amendments will signal whether Paris favors light-touch treatment of self-custody or aligns with stricter transparency norms. Watch the final budget text for the retained threshold and any carve-outs for wallet-to-wallet transfers.