- France’s National Assembly adopted Amendment I-3898 by a 38-37 vote with 25 abstentions.
- The measure could make certain crypto-to-stablecoin swaps taxable starting in 2027.
- Separate proposals on an exit tax and self-custodial wallet reporting are still under consideration.
France crypto tax proposals moved forward after the National Assembly approved an amendment that could change how some digital asset transactions are taxed from 2027. The approved measure targets certain crypto-to-stablecoin swaps and would treat gains as taxable even when investors do not convert into fiat. The vote was narrow, and more crypto-related measures are still being weighed as part of the 2027 Finance Bill. Those separate items include a proposal tied to taxpayers moving abroad and another that would require reporting of some self-custodial wallet holdings above a set threshold during the relevant tax year.
France crypto tax amendment advances
French lawmakers approved Amendment I-3898 on Friday, with 38 votes in favor, 37 against and 25 abstentions. The measure had first been introduced as committee amendment I-CF1826 by French MP Nicolas Sansu and was adopted on Oct. 7.
The Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday, according to its official schedule. Other crypto-related proposals are still under consideration, though it remains unclear whether each one will be debated or voted on that day.
How the France crypto tax measure would work
If enacted, the amendment would make certain crypto-to-stablecoin swaps taxable events starting in 2027. It would also alter how France calculates crypto capital gains tax under the proposal described by lawmakers.
Under the text, investors who convert Bitcoin or other cryptocurrencies into stablecoins would trigger tax on gains even if those gains are not turned into fiat. The calculation would rely on the acquisition cost of the crypto asset sold and the weighted average purchasing price.
Other proposals under review
On Friday, the Assembly rejected a separate proposal that would have allowed realized crypto losses to be carried forward for 10 years. That measure received 18 votes in favor, 75 against and 3 abstentions.
Lawmakers are also examining amendment I-CF1822, which would extend France’s exit tax regime to unrealized gains when taxpayers with aggregate crypto portfolio values above €800,000, or $895,000, move their residences abroad. As of Monday, that proposal remained under consideration for the 2027 Finance Bill.
France crypto tax debate also includes wallet reporting
Another proposal under review is amendment I-2701. It would require individuals to declare holdings in self-custodial wallets if the total value exceeded €100,000, or $112,000, during the relevant tax year.
As of Monday, both the exit tax proposal and the wallet reporting proposal were still being considered. That leaves the broader France crypto tax discussion open beyond the approved stablecoin swap amendment, with multiple measures still awaiting possible debate or votes.
Conclusion
The latest France crypto tax developments center on Amendment I-3898, which passed by a one-vote margin and could make certain crypto-to-stablecoin swaps taxable from 2027 if enacted. The proposal would tax gains on swaps into stablecoins without requiring conversion into fiat and would use acquisition cost and weighted average purchasing price in the calculation. At the same time, lawmakers rejected a plan to carry forward realized crypto losses for 10 years, while separate proposals on extending an exit tax to some unrealized crypto gains and requiring reporting for higher-value self-custodial wallet holdings remain under consideration in the 2027 Finance Bill process.
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