France Pushes New Crypto Taxes — Then Rejects Whole Budget

France is moving closer to tightening the tax rules on cryptocurrency — but the process just hit a confusing snag.

This week, France's National Assembly Finance Committee (a group of lawmakers that reviews budget proposals before the full parliament votes) approved three crypto-related tax changes. But then, on October 9, the same committee rejected the entire revenue section of the budget by 31 votes to 3. This means the full parliament will start its debate from the government's original text — without these crypto amendments. The measures aren't law, and supporters must re-submit them if they want them considered.

What the proposed changes would do:

• Tax on stablecoin swaps: Today, swapping Bitcoin for a *stablecoin* (a crypto token tied to a real currency like the dollar or euro) triggers no tax in France. The proposal would treat such swaps as a sale starting Jan. 1, 2027, taxing the gain at France's flat rate of 31.4%.
• Exit tax on wealthy holders: An *exit tax* (a charge on profits you haven't yet cashed out, applied when you move your tax home abroad) would hit people with crypto worth over €800,000 who were French tax residents for 6 of the last 10 years.
• Loss carry-forward: Investors could carry crypto *losses* forward for 10 years to offset future gains — matching the rule that already exists for stocks.

The lawmakers behind these ideas argue they're not creating new taxes, just closing a "hole in the legislation" where crypto gains currently slip through untaxed, unlike shares of equal value.

This isn't France's first crypto tax push. In late 2025, the Assembly backed a 1% annual tax on "unproductive" wealth above €2 million, lumping crypto in with gold and yachts.

What happens next: The full parliament debates the budget's revenue section starting Oct. 13, with a formal vote on Oct. 20. If the crypto measures return and survive the full process, they'd take effect Jan. 1, 2027.

This is an AI-generated summary. Read the original article at: https://decrypt.co/380630/france-stablecoin-swap-crypto-exit-tax