France Eyes Strict Bitcoin Rules and Ledger Supply Chain Hacks

A recent hardware wallet security incident involving tampered LEDGER devices sold by a third-party reseller led to more than $86 million being drained from hundreds of wallets in a sophisticated supply chain attack. The suspected attack highlights risks before a device reaches the user, as the hardware may have been physically modified to capture and transmit sensitive information shown on the wallet. This situation emphasizes the dangers of relying on a single hardware wallet, while promoting alternatives like multisig, multiple devices, and improved supply-chain security. Additionally, new proposals in France could introduce stricter Bitcoin reporting requirements, taxable stablecoin conversions, and an exit tax for holders leaving the country.