France’s National Assembly adopted a 2027 budget amendment that would tax swaps from cryptocurrency into MiCA-regulated stablecoins as sales from January 1, 2027. The measure is not law and still faces the rest of the budget process. Of 100 deputies who took part, 38 voted for it, 37 against and 25 abstained.
Under the amendment, a taxable gain would be the value of the stablecoins received minus the cost of the cryptocurrency given up. The government opposed the measure. A separate proposal to require reporting of self-custodied crypto holdings worth at least €100,000 at year-end has drawn criticism from crypto figures; it, too, is not law.
