Bull Bitcoin Petitions French Court to Strike Down DAC8 Decree
Vexoda Newsroom
Bitcoin exchange Bull Bitcoin has petitioned France's Council of State to annul a decree implementing EU’s DAC8 rules, citing risks to privacy and physical safety for millions of crypto holders.
In an unprecedented move, non-custodial Bitcoin exchange Bull Bitcoin has petitioned the French Council of State (Conseil d'État) to strike down a French decree that implements the European Union’s DAC8 cryptocurrency tax reporting rules. The company argues these regulations could create significant surveillance and physical risks for up to 135 million crypto holders in Europe.
Under DAC8, crypto service providers are required to collect users’ identity and transaction data, which is then automatically reported to national tax authorities within the EU. This information exchange poses a concern for Bull Bitcoin, as they warn that it could lead to the creation of a 'mass database' linking legal identities with home addresses, including transactions irrelevant to taxation.
Bull Bitcoin filed its summary petition on February 24 and submitted a detailed legal brief outlining their arguments against DAC8. They intend to pursue every legitimate avenue available to suspend or delay the implementation of these rules until they can be amended. The company points out that France has been particularly affected by 'wrench attacks,' where criminals threaten victims into transferring digital assets, with 19 such incidents reported in 2025.
The petition comes amid a backdrop of increased data breaches and security concerns within the crypto industry. In May 2025, Coinbase disclosed that less than 1% of its monthly users were affected by an attack potentially costing up to $400 million. Additionally, France has seen a significant rise in wrench attacks, with a 75% increase from the previous year.
This move could have broader implications for crypto regulation and privacy concerns within Europe. Traders should monitor how other exchanges and regulatory bodies respond to Bull Bitcoin’s petition as it may set a precedent for future challenges against similar regulations.
The market reaction has been cautious, with no immediate changes in price or trading volume observed among major cryptocurrencies like BTC and ETH. However, this legal challenge could influence the overall sentiment towards crypto regulation and potentially impact investor confidence.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.