Another sign that regulation is getting tougher. Several Boursorama customers report having had to provide supporting documents, including tax returns, to justify a past transfer. A trend that will spread in France?
Boursorama checks transfers made to crypto platforms
User CryptoHold4Ever shared a screenshot on Twitter showing a request from his bank, Boursorama. Boursorama asked him to provide proof of a transfer made to an exchange platform, along with a tax declaration:
For those who have not declared their @binance, @cryptocom or other account to the tax authorities, be aware that your bank will ask you for proof (email received today) when you make transfers.
What about those who won’t be able to do so? pic.twitter.com/pv1WUBdXNw
– CryptoHold4Ever (@CryptoHold4Ever) June 5, 2023
Boursorama’s request comes several weeks after the transfer was actually made: it is therefore a check, and not an authorisation prior to a transfer being made. This shows that the bank, which is owned by Société Générale, wants to check that its customers hold accounts on the platform and that they have declared them to the tax authorities.
Other Boursorama customers have claimed to have also been subject to such a check, in response to the discussion started by CryptoHold4Ever.
Boursorama, open to cryptocurrencies… But against justification?
Historically, Boursorama is considered one of the most open French banks to cryptocurrencies. In particular, it allows you to link your crypto accounts on several platforms (Binance, Coinbase and Kraken in particular) in order to display them directly on your account.
For all that, the bank seems to be keeping an eye on whether its customers have completed their tax returns. As a reminder, it is now compulsory for holders of accounts on exchange platforms to declare them as accounts held abroad. The tax return campaign is now coming to an end in France.
The “Influencer Law”, whose development had shaken the ecosystem, was already a warning shot: the regulations surrounding cryptocurrencies have tightened in France. A few days ago, the announcement of the removal of “enhanced anonymity” assets on Binance had also made waves. With nearly one in ten French people holding cryptocurrencies, new frictions could emerge between traditional players and Web3.
