French National Assembly Passes Tax Bill on Stablecoin Exchanges

The French National Assembly has narrowly passed a bill that imposes capital gains tax on the exchange of digital assets for stablecoins. If the bill is finalized, it is expected to restrict investors from deferring taxes by moving profits from the sale of digital assets into stablecoins. On the 17th, the French National Assembly adopted amendment I-3898 during the review of the 2027 finance bill. The amendment was proposed by MP Nicolas Sansu and recorded a vote of 38 in favor, 37 against, and 25 abstentions in the plenary session. Out of 577 members, 100 participated in the vote. Currently, there is no capital gains tax applied when exchanging digital assets for stablecoins in France, but once the bill is enacted, a capital gains tax of 31.4% will apply to such transactions. According to Chainalysis, 90% of digital asset profits in France are unreported. The bill still awaits review by the Senate, and the government is also opposed to the measure. If the amendment passes without changes, the tax regulations will take effect from January 1, 2027. A vote to decide whether to send it to the Senate is scheduled for the 20th.