French Lawmakers Move Toward Taxing Crypto-to-Stablecoin Trades in 2027
A French National Assembly finance committee approved an amendment to tax gains when crypto assets are swapped into stablecoins pegged to currencies like the euro or dollar, beginning Jan. 1, 2027. The measure, part of the 2027 budget bill, still needs full Assembly approval, with debate set to start Oct. 13. The committee also backed allowing crypto losses to be carried forward for 10 years and expanding exit tax rules for large crypto holders.
France's National Assembly finance committee backed Nicolas Sansu's amendment to tax gains when crypto assets are swapped for euro- or dollar-pegged stablecoins from Jan. 1, 2027. The full Assembly begins reviewing the 2027 Finance Bill on Oct. 13. Daniel Labaronne's amendment would let realized crypto losses carry forward for 10 years.
Another amendment would extend France's exit tax to unrealized crypto gains when taxpayers with household crypto holdings over €800,000 relocate abroad. Greece's finance ministry drafted a 10% individual crypto capital gains tax, exempting annual gains up to €500 and excluding crypto-to-crypto swaps. EU states must implement DAC8 reporting rules.
The proposal could affect French crypto investors who use stablecoins as a trading or savings tool, potentially creating tax events before they return to euros. It may also influence relocation decisions among large holders and increase reporting burdens for service providers under DAC8. Broader society might see greater tax transparency, though compliance costs and administrative complexity could fall unevenly on smaller users and firms.