France's National Assembly Finance Committee has adopted two amendments targeting cryptocurrency taxation. The first would treat swaps from crypto into MiCA-regulated stablecoins as taxable sales beginning January 1, 2027. The second would extend an exit tax to crypto held by households valued above €800,000 when moving their tax residence abroad.
The stablecoin amendment, filed by Nicolas Sansu and 16 co-signers, addresses what the authors characterize as a gap in existing French law. Currently, converting Bitcoin to a stablecoin triggers no tax because France only collects when gains are sold for regular currency or spent. Under the proposal, such swaps would be treated as sales, with gains calculated against the original purchase price. The tax rate would default to France's existing flat tax, which stands at 31.4% as of January 1, 2027.
The exit tax amendment would apply to taxpayers who were French tax residents for at least six of the previous ten years and hold combined crypto worth more than €800,000. The threshold matches the existing standard for shares. The authors argue that crypto held directly currently escapes this tax while equivalent shareholdings do not, and note the ease with which digital assets can move across borders.
A third approved amendment, filed by Daniel Labaronne, would allow investors to carry forward crypto losses for up to ten years to offset future gains, aligning with existing rules for stock investments.
The amendments' path forward remains uncertain. On October 9, the Finance Committee rejected the budget's entire revenue section by a vote of 31 to 3. This rejection means the full National Assembly will begin floor debate from the government's original text without these crypto amendments. Backers of the measures would need to file them again during floor debate, which begins October 13, with a formal vote scheduled for October 20.
If approved and implemented, the stablecoin and exit-tax provisions would take effect January 1, 2027. Both measures must still advance through the remainder of the legislative process to become law.
