French National Assembly adopts amendment to tax stablecoin conversions, pending Finance Bill vote

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[French National Assembly adopts amendment to tax stablecoin conversions, proposed to take effect in 2027]

On Friday, the French National Assembly adopted 38 votes in favor, 37 votes against, and 25 abstentions Amendment No.I-3898, which proposes taxing certain cryptocurrency-to-stablecoin conversions. If approved, the relevant provisions are expected to take effect from 2027. The measure would change the calculation of cryptocurrency capital gains tax: when investors exchange Bitcoin or other cryptocurrencies for stablecoins, the resulting gains may trigger taxation even if they have not been converted into fiat currency. The French National Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday. On Friday, the Assembly rejected a proposal to carry forward realized cryptocurrency losses for 10 years by 18 votes in favor, 75 votes against, and 3 abstentions. French lawmakers are also considering cryptocurrency tax proposals:I-CF1822 would extend the exit tax to unrealized gains, applying to taxpayers whose total cryptocurrency portfolio value exceeds 800000 EUR and who move their residence out of France;I-2701 would require the declaration of self-custodied wallet holdings, with a threshold of total value exceeding 100000 EUR in the relevant tax year. Both proposals remained under consideration as of Monday.

Key points

On Friday, the French National Assembly adopted 38 votes in favor, 37 votes against, and 25 abstentions Amendment No.I-3898.
The amendment proposes taxing certain cryptocurrency-to-stablecoin conversions. If approved, the relevant provisions are expected to take effect from 2027.
When investors exchange Bitcoin or other cryptocurrencies for stablecoins, the resulting gains may trigger taxation even if they have not been converted into fiat currency.
The French National Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday.
A proposal to carry forward realized cryptocurrency losses for 10 years was rejected by 18 votes in favor, 75 votes against, and 3 abstentions.
I-CF1822 The proposal would extend the exit tax to unrealized gains, applying to taxpayers whose total cryptocurrency portfolio value exceeds 800000 EUR and who move their residence out of France.
I-2701 The proposal would require the declaration of self-custodied wallet holdings, with a threshold of total value exceeding 100000 EUR。
As of Monday,I-CF1822 and I-2701 remained under consideration.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This means that, under the proposed rules, exchanging cryptocurrencies such as Bitcoin for stablecoins may also be regarded as a taxable transaction; taxation may be triggered without waiting for conversion into fiat currency. However, the relevant Finance Bill remains pending a vote.

Why it matters to readers

If the relevant provisions are ultimately adopted, French investors may need to consider capital gains tax when converting between cryptocurrencies and stablecoins.

Beginners conducting cryptocurrency-to-stablecoin conversions in France should monitor the vote on the 2027 Finance Bill and the final taxation rules.

Risks and unknowns

《2027 The outcome of the vote on the first part of the Finance Bill has not been provided in the evidence.
I-3898 It is unclear whether it will be retained in the final text that takes effect.
I-CF1822 and I-2701 remained under consideration as of Monday, and it has not yet been determined whether they will be adopted.
The evidence does not provide the final scope of taxation or specific implementation details.

French National Assembly adopts amendment to tax stablecoin conversions, pending Finance Bill vote

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