How Much Crypto Can You Sell Tax-Free in France?

You sell crypto-assets, you cash in, and then you discover that tax looks not at your “intention” but at how the transaction is characterised, the taxable event and your reporting obligations. In 2026, the French regime remains highly codified: a single misreading (of the threshold, of an exchange or of the calculation) is enough to distort your whole tax return.

The €305 threshold: what it exempts and what it does not

The regime for “private” capital gains on crypto-assets provides for an exemption when the total disposal price (in the tax sense) does not exceed €305 over the tax year, excluding exchanges without a cash adjustment. The threshold does not refer to the capital gain, but to the total amount of disposals taken into account for the year.

In practice, two points cause most of the mistakes:

• The threshold is assessed on all the relevant disposals of the year, not “transaction by transaction”.
• The threshold does not make a transaction “non-reportable”: in principle, it leads to an exemption, provided the transactions are correctly characterised.

Which transactions fall within the regime for private individuals

In principle, the taxable event is the disposal for consideration of crypto-assets (or rights relating to them) by an individual acting in the management of their private assets. A disposal “for consideration” covers a sale against legal tender and, more broadly, any transaction in which you receive consideration that has a value.

Conversely, the law provides for separate treatment of exchanges without a cash adjustment between crypto-assets: the transaction does not trigger tax for the year of the exchange, under the conditions set by law. This distinction matters, because it changes both the timing of taxation and the way you document your transactions.

Calculating the capital gain: a formula that departs from the usual logic

The regime does not calculate the gain as a simple “sale price minus purchase price” on the asset sold. It uses a formula that takes into account the overall value of the portfolio at the time of the disposal and the total acquisition price of the portfolio.

The statutory formula (to know before you sell)

Gross capital gain or loss = Disposal price – [Total acquisition price × (Disposal price / Overall portfolio value)]

The concepts to get right

Disposal price: this is the actual price received or the value of the consideration received. The law also governs the inclusion of any cash adjustment and the possibility of deducting certain fees on production of supporting documents.

Total acquisition price: this aggregates earlier acquisitions and certain items linked to exchanges that benefited from the deferral. It is not limited to the last purchase of the asset you are selling.

Overall portfolio value: this is the sum of the values, at the time of the disposal, of the crypto-assets (and rights relating to them) you hold before the disposal. This figure must be consistent, traceable and justifiable.

Taxation: flat rate, option, and caution with the 2026 figures

In principle, the regime for private individuals applies a flat income tax rate to the capital gain, to which social levies are added at the rate applicable to investment income. For disposals made since 2023, taxpayers also have a right to opt for the progressive income tax scale, exercised under strict conditions and globally for the year concerned.

Note: Law No. 2026-534 of 25 June 2026 raised the CSG on investment income, which covers these capital gains, to 10.6% for income taxable from 2026 (Article L. 136-8 of the French Social Security Code (Code de la sécurité sociale) (in French)). With the CRDS (social debt repayment contribution, 0.5%) and the solidarity levy (7.5%), social levies reach 18.6%, i.e. 31.4% in total with the 12.8% flat rate, compared with 30% previously. As a precaution, you work with the rates in force for the year of the disposal and avoid mechanically applying a “historical” percentage without checking it.

Filing your return: what the tax authorities generally expect

In practice, you declare taxable disposals on the schedule dedicated to digital assets and carry the overall result over to your income tax return. Most often, the tax authorities expect:

• a disposal-by-disposal summary where taxable transactions exist,
• consistency between your calculations, your supporting documents and the portfolio data at the time of the disposals,
• a traceable record of the events that explain how the portfolio was built up (acquisitions, exchanges, disposals, cash adjustments, fees).

If you are looking for a step-by-step method for the declaration, you can rely on the page declaring these gains without turning this article into individual advice: the general framework does not replace an analysis of your situation.

When the “private individual” regime no longer applies: professional activity in the spotlight

In principle, the tax rules provide that the rules above do not apply to business profits. The boundary depends on the conditions in which the activity is carried out: frequency, organisation, resources, structured speculative intent, and similarity to an activity carried out on a professional basis.

For transactions carried out under conditions similar to a professional activity, the tax treatment switches to the category of non-commercial profits (bénéfices non commerciaux), with different obligations and consequences. The law governs this switch, in particular since Article 70 of the Finance Act for 2022 (in French), and it refers to provisions such as Article 92 of the French Tax Code (Code général des impôts, CGI) (in French).

Mining and technical operations: a careful approach

Income from technical activities (such as mining) is not treated “by default” as a simple private capital gain. Its characterisation depends on the nature of the gains, the organisation of the activity and the rules applicable to the category used. The tax authorities generally attach this income to a professional category, which changes the logic: you reason in terms of taxable profit rather than a private capital gain calculated on the portfolio.

Regulated transactions and players: do not confuse tax and regulation

Financial regulation governs certain players and services in the sector. This regulation does not remove your tax obligations, but it can shape your relationships with platforms and service providers. If you work with regulated players, you will often find frameworks and terminology aligned with French obligations, in particular through the concept of digital asset service providers.

The checkpoint: what you lock down before filing your return

To limit the risk, you generally check four blocks: characterisation (private or professional), the €305 threshold (on the total of disposal prices), the calculation formula (portfolio, overall value, total acquisition price) and traceability (supporting documents, data consistency). If any doubt remains on one block, you have the analysis checked rather than applying a rule “by feel”.

To go further into the legal framework, you can read Article 150 VH bis of the French Tax Code (in French) directly. If you need to frame a complex situation, dedicated assistance remains relevant via the page cryptocurrency law firm.

For all the rules, see our guide to crypto taxation.

Official sources

• Article 150 VH bis of the French Tax Code (Code général des impôts) (in French) – regime for capital gains on disposals of crypto-assets by private individuals (exemption below €305, exchanges without a cash adjustment not taxable), version in force since 1 July 2026.
• Article 200 C of the French Tax Code (Code général des impôts) (in French) – flat rate of 12.8% (i.e. 31.4% with social levies on income for 2026, 30% previously) and express, irrevocable and global option for the progressive scale.
• Articles 1649 AC bis et seq. of the French Tax Code (Code général des impôts) (in French) – reporting of transactions by crypto-asset service providers (transposition of DAC 8), in force since 1 January 2026.

Legal position checked against official websites as at 5 October 2026. Every situation is different: this general information does not replace advice tailored to your case.

For assistance: crypto tax lawyer: declaring and taxing crypto-assets.