Chainalysis France CEO Francois Volpoet warned that a proposed tax on regulated stablecoins could drive crypto traders offshore and undermine regulatory compliance efforts. Volpoet argued that taxing regulated assets may push activity toward decentralized finance platforms and self-hosted wallets, which are harder for authorities to monitor than compliant stablecoin transactions. The French finance committee recently backed amendments requiring taxpayers to declare self-hosted wallets holding at least €100,000 ($116,000), with fines up to $11,600 for non-compliance. Volpoet highlighted security concerns regarding mandatory disclosures, noting France accounted for 33 of 52 global physical attacks against crypto holders as of July. Lawmakers also advanced proposals to extend exit taxes to crypto holdings worth approximately $900,000 and allow investors to carry forward crypto losses for up to 10 years.