TL;DR
France approved an amendment that would allow gains from cryptocurrency-to-stablecoin swaps to be taxed starting in 2027.
The proposal would end tax deferral for certain crypto-to-crypto transactions, even when investors do not convert their gains into fiat currency.
Lawmakers are also considering an exit tax on large crypto portfolios and new reporting requirements for self-custodial wallets.
France’s National Assembly approved an amendment that would allow gains from swapping Bitcoin and other cryptocurrencies for stablecoins to be taxed , even when investors do not convert their assets into euros.
The measure, designated I-3898 , received 38 votes in favor , 37 against, and 25 abstentions. It would take effect in 2027 if ultimately enacted into tax law.
The proposal would change the tax treatment of certain crypto-to-crypto transactions, which currently allow investors to defer taxation until their assets are converted into fiat currency.
Taxable gains would be calculated using the acquisition cost of the asset sold and the weighted average purchase price .
The amendment was originally introduced by lawmaker Nicolas Sansu and approved in committee on October 7.
France Considers Expanding Cryptocurrency Taxation
The amendment’s approval does not mean the tax change is final. Parliament must still complete the legislative process for the 2027 Finance Bill .
France’s National Assembly is scheduled to vote on the first part of the bill on Tuesday , although it remains unclear whether all cryptocurrency -related proposals will be put to a vote that day.
Lawmakers also rejected a proposal that would have allowed investors to carry forward realized cryptocurrency losses for ten years .
The proposal received 18 votes in favor , 75 against, and three abstentions.
Exit Tax and Self-Custodial Wallet Reporting
Among the pending proposals is amendment I-CF1822 , which seeks to extend France’s exit tax to unrealized cryptocurrency gains.
The measure would apply to taxpayers who move their residence outside France while holding crypto portfolios worth more than €800,000 .
Another proposal, designated I-2701 , would introduce new reporting requirements for self-custodial wallet owners.
Under the proposal, individuals would have to declare their holdings if the combined value of their wallets exceeded €100,000 during the relevant tax year.
Both proposals remain under parliamentary consideration and have not yet been approved as part of the 2027 Finance Bill.
