French Supreme Administrative Court Rejects EU DAC8 Implementation Appeal

France's highest administrative court rejected a request to halt the implementation of the EU DAC8 virtual asset tax information regulation, filed by Bull Bitcoin and Paymium. According to Bitcoin.com News, the Council of State dismissed the urgent appeal. The applicants argued that France's December 19, 2023 decree requiring virtual asset service providers to collect, process, verify, and store user personal data for submission to tax authorities violated privacy protections, posed data leakage risks, and potentially breached EU law. However, the court determined that the public interest in preventing tax fraud and evasion did not justify urgent action, without assessing whether the regulation's legality was questionable.