Andreessen Horowitz, Uniswap Labs, and the DeFi Education Fund objected to proposed Illinois tax rules that would apply taxes to asset withdrawals from centralized exchanges into personal wallets.

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Under the EU's DAC8 directive, cryptocurrency service providers must report customer identities and transaction data to tax authorities for sharing within user residence countries in the EU.

France introduced cryptocurrency reporting obligations under the EU's DAC8 directive through the 2025 Finance Act.

The French Senate's crypto tax data sharing bill is based on the OECD's Crypto-Asset Reporting Framework (CARF).

The OECD's Crypto-Asset Reporting Framework sets common international standards for participating jurisdictions to collect and automatically exchange information on cryptocurrency transactions.

The crypto tax data sharing bill was transmitted to the French National Assembly as Bill no. 3421 for consideration.

Faustine Fleuret of Morpho stated that centralizing cryptocurrency transaction data in an EU repository creates a single point of failure and safety risks for investors.

The French Senate passed a bill on October 27, 2026, enabling tax authorities to automatically exchange cryptocurrency transaction data with international counterparts.

The European Commission plans to create a central repository for cryptocurrency tax reports by the end of 2026.

The bill passed by the French Senate does not introduce new taxes on cryptocurrency assets.

Illinois' proposed crypto rules would apply the state's 0.2% digital asset transaction tax to cross-blockchain transfer activities known as bridging.

Andreessen Horowitz policy chief Miles Jennings stated on October 30, 2026 that classifying autonomous decentralized exchanges as brokers exceeds the authority of Illinois law and conflicts with federal classifications.

Illinois' proposed crypto regulations would require digital asset brokers to maintain records containing customer cryptocurrency private keys.

The Illinois Department of Revenue's proposed crypto tax rules classify decentralized cryptocurrency exchanges as digital asset brokers required to collect taxes and file transaction returns.

Andreessen Horowitz, Uniswap Labs, and the DeFi Education Fund requested that Illinois regulators explicitly exclude decentralized protocols, interfaces, and automated fee collectors from the definition of digital asset brokers.

The Blockchain Association and Crypto Council for Innovation filed lawsuits challenging the Illinois Digital Asset Tax Act over alleged discrimination against digital asset activity and constitutional violations.

Industry groups requested that the Illinois Department of Revenue explicitly exclude blockchain bridging transfers from the state's 0.2% digital asset levy.

The Enforcement Directorate alleged that decentralized finance protocol Instadapp engaged in Foreign Exchange Management Act contraventions involving approximately $40 million, or about ₹380 crore.

Decentralized crypto exchanges operate via autonomous software and cannot identify customer locations, control assets, collect taxes, or file individual transaction returns.

Enacted in June 2026, the Illinois Digital Asset Tax Act imposes a 0.2% levy on the total value of covered digital asset transactions rather than on capital gains profits.

Illinois state officials agreed to postpone the implementation of the Digital Asset Tax Act from January 1 to July 1, 2027 pending ongoing litigation.