French Lawmakers Back Crypto to Stablecoin Swap Tax Starting in 2027

France’s National Assembly narrowly adopted Amendment I-3898 on Friday, with 38 votes in favor, 37 against and 25 abstentions. The measure could turn crypto to stablecoin swaps into taxable events from 2027. It began as committee amendment I-CF1826, introduced by MP Nicolas Sansu and adopted on October 7. The Assembly is due to vote on the first part of the 2027 Finance Bill on Tuesday, though it is unclear whether each crypto related proposal will be debated that day.

How Crypto Capital Gains Tax Would Change

If enacted, investors who convert Bitcoin or other cryptocurrencies into stablecoins would owe tax on their gains, even without moving the money into fiat. The calculation would rely on the acquisition cost of the sold asset and the weighted average purchase price. The amendment would also change how France works out crypto capital gains tax overall.

French Crypto Exit Tax and Wallet Reporting Proposals

Other measures are still on the table as part of next year’s budget. Amendment I-CF1822 would extend the exit tax to unrealized gains for taxpayers with crypto portfolios above €800,000, or about $895,000, who move their residence abroad. Amendment I-2701 would require individuals to declare self custodial wallet holdings when their total value passes €100,000, roughly $112,000, in the relevant tax year.

Crypto Loss Carry Forward Proposal Rejected

On Friday the Assembly also rejected a proposal to carry forward realized crypto losses for 10 years, with 18 votes in favor, 75 against and 3 abstentions.