Ledger Co-founder Called for ‘Civil Resistance’ and Protest Token Creation Amid 1649AC Amendment

• Éric Larchevêque commented on the legislative amendment 1649AC.
• According to it, France requires a report on crypto assets held by users on self-custody wallets.
• He also called for the creation of a memecoin with the same name to block the new law.
• The crypto community supported him.

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Ledger co-founder Éric Larchevêque sharply criticized the amendment to French law, Amendment 1649AC, which obliges citizens to declare the exact market value of crypto assets in self-custody, even if they have not carried out any taxable transactions.

The amendment has already been approved by a National Assembly commission, and critics warn that the innovation creates an excessive invasion of privacy and a dangerous data set with citizens’ precise crypto balances.

Larchevêque said:

In response, he called on the crypto community to engage in “civil resistance” — demonstrative overflow of absurd data into the system.

Larszewek proposed to create a protest token, 1649AC, with zero real value, noting:

Thus, the French would be declaring between €1 billion and €2 billion in “value”, rendering the data completely useless.

The discussion quickly gained momentum on social media. In particular, a user under the pseudonym undisputed goat wrote:

Another panelist, Daemon, said:

We would like to remind you that the 1649AC amendment is another element of a broader trend of tightening control over digital assets in France. In 2025, the French Financial Markets Authority announced that it may block crypto companies that have obtained a MiCAR license in jurisdictions with lighter oversight, fearing regulatory arbitrage.

At the same time, the country’s crypto economy is growing: in December 2024, the first real estate transaction was made with bitcoin: the buyer purchased two parking spaces in Gap for 0.33 BTC through the Bitcoinimmo platform, and the seller insisted on crypto payment in an effort to protect her savings from inflation.

In 2025, the UDR party submitted a bill to parliament that would create a state bitcoin reserve of 420,000 BTC and allow for the payment of taxes in bitcoin and stablecoins.