France’s Council of State Dismisses Emergency Motion Against DAC8
- France’s Council of State rejected an emergency motion by Bull Bitcoin and Paymium to suspend the DAC8 rules.
- The decree mandates crypto asset service providers to collect sensitive data for EU tax authorities.
- Critics argue centralized data collection poses risks of hacker attacks and extortion.
- Initial reporting for the year ends on Sept. 30, 2027, as Bull Bitcoin continues its annulment lawsuit.
- The court found no immediate urgency in freezing the decree despite security concerns raised by applicants.
The French court’s decision highlights ongoing legal challenges against DAC8, which requires detailed digital asset data collection across the EU. Critics warn that such centralization increases vulnerability to cyberattacks and physical threats against cryptocurrency holders.
Despite rejecting the emergency motion, the court has not yet ruled on the legality of DAC8 itself, leaving room for future legal developments. Source
