France Crypto Tax: October 20 Budget Vote Could Determine…
By Karthik Subramanian
AI summary of the source article
France's National Assembly approved an amendment to tax certain cryptocurrency-to-stablecoin conversions starting January 1, 2027. The measure faces further parliamentary votes, including a crucial budget revenue vote, before potential enactment into law.
Why it matters
For French cryptocurrency investors, the proposal could substantially change tax planning around stablecoin conversions. For exchanges and stablecoin providers, it could create additional transaction-reporting and customer-accounting requirements.
Key facts
- Lawmakers approved amendment I-3898 by a 38-to-37 vote to make certain crypto-to-stablecoin conversions taxable events.
- The rule would remove tax deferral for swaps into EU MiCA-classified electronic-money tokens, potentially covering stablecoins like EURC and USDC.
- The amendment would apply from January 1, 2027, but still requires passage through multiple legislative stages, including Senate review.
Source excerpt · FinanceFeeds
France's proposed tax on cryptocurrency-to-stablecoin conversions faces another parliamentary test on October 20, 2026, as the National Assembly prepares to vote on the revenue section of the country's 2027 budget. The measure advanced on October 16, when lawmakers approved amendment I-3898 by 38 votes to 37, with 25 abstentions. Introduced by Nicolas Sansu and fellow lawmakers, the amendment woul…