French Lawmakers Back Tax on Crypto-to-Stablecoin Swaps by a Single Vote
The measure would tax gains when investors move Bitcoin and other cryptocurrencies into stablecoins, with 38 lawmakers voting for it.
- On Friday, the French National Assembly adopted Amendment I-3898, making crypto-to-stablecoin swaps taxable events starting January 1, 2027, in a narrow 38-to-37 vote with 25 abstentions.
- Existing French regulations currently allow tax deferral for crypto-to-crypto exchanges; the amendment removes this deferral when investors receive MiCA e-money tokens, subjecting gains to the country's 31.4% capital gains levy.
- Public Accounts Minister David Amiel opposed the amendment, citing implementation and tracing challenges, while Chainalysis regional sales director Francois Volpoet warned last week the tax could push investors toward offshore exchanges.
- Lawmakers are also considering Amendment I-CF1822 and Amendment I-2701 as part of the 2027 Finance Bill, targeting exit taxes on portfolios exceeding $895,000 and self-custodial wallet reporting for holdings over $112,000.
- Separately, the Assembly rejected a proposal Friday to allow carrying forward realized crypto losses for 10 years, while the National Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday.
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30 Articles
France Advances Stablecoin Tax, Eyes Self-Custodial Wallets and Exit Tax Proposals
France’s National Assembly adopted a crypto tax amendment targeting certain stablecoin swaps, while separate proposals on exit taxes and self-custodial wallet reporting remain under consideration.
The French National Assembly approved on October 16 an amendment to the budget of 2027 that would eliminate the postponement of the tax when cryptocurrencies are exchanged for stablecoins regulated by MiCA, according to CoinDesk. The vote ended 38 in favor, 37 against and 25 abstentions, and the text still has to exceed the rest of the process [...] The entry France wants to tax the change from crypto to stablecoins; in Spain that exchange alrea…
France Crypto Tax Passes by One Vote: Will Stablecoin Swaps Really Be Taxed in 2027?
France’s National Assembly voted 38 to 37 to introduce a France crypto tax gains when investors swap crypto into stablecoins from January 1, 2027, adopting communist deputy Nicolas Sansu’s amendment to close what he calls a gap in the law. Only 100 of 577 deputies voted. One of the 38 later said...
France wants to tax the exchange of cryptocurrencies into regulated stablecoins like USDC. Criticism is not only from the government. Source: BTC-ECHO BTC-ECHO
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