French lawmakers back crypto tax changes, including stablecoin conversions
France’s National Assembly finance committee adopted amendments to the 2027 budget on October 7 and 8 that would tax crypto-to-stablecoin conversions. Another measure would extend the exit tax to unrealized crypto gains above €800,000 when taxpayers leave France, while a third would let investors carry crypto losses forward for ten years. The amendments target e-money tokens under MiCA and would take effect on January 1, 2027, with a transitional regime; public debate begins October 13.
The finance committee’s Oct. 7-8 votes would alter how crypto disposals are treated. One amendment, I-CF1826, targets e-money tokens under MiCA, including stablecoins tied to official currencies, and would use acquisition price with weighted averaging for tokens of the same kind. It would start Jan. 1, 2027, with transitional rules for existing wallets.
A second amendment, I-CF1822, would apply exit tax to unrealized crypto gains over €800,000 for certain departing residents, with deferral and relief if they return. A third, I-CF798, would allow crypto losses to be carried forward for ten years. The full Assembly begins public debate Oct. 13.
If enacted, these measures could affect French crypto investors who use stablecoins, especially those who move between tokens without converting to euros. The exit-tax extension may influence decisions by wealthy taxpayers considering relocation, while ten-year loss carryforward could soften outcomes for investors with prior losses. Platforms and advisers may face added reporting and calculation duties. Because the amendments still require public debate, their practical reach may change before any final budget vote.