France’s National Assembly Approves Crypto-to-Stablecoin Tax Measure
- French lawmakers passed a proposal to tax crypto-to-stablecoin swaps with capital gains tax by a narrow vote of 38-37.
- The measure aims to close a regulatory loophole and could impact traders’ ability to park gains tax-free.
- If approved by the Senate, the new taxation rule could take effect on January 1, 2027.
- Currently, only about $427 million in crypto gains were declared by approximately 24,000 French taxpayers for the year.
France is moving towards stricter cryptocurrency regulations with the recent adoption of a proposal to tax crypto-to-stablecoin exchanges as part of its Finance bill debate. The amendment was passed narrowly and targets a significant loophole that allows traders to avoid taxes by using stablecoins instead of fiat currencies.
The potential implementation in January of this new rule hinges on an upcoming Senate vote, which will determine whether this measure becomes law or not. (Source)
