French Committee Backs Stablecoin Swap And Crypto Exit Tax

A National Assembly Finance Committee in France adopted amendments that would treat crypto-to-stablecoin swaps as taxable sales and extend exit taxes to affluent crypto holders, according to Decrypt. The measures form part of broader legislative discussions surrounding the 2027 budget.

Under the stablecoin amendment filed by lawmaker Nicolas Sansu, swapping digital assets into MiCA-regulated stablecoins tied to a single official currency would count as a taxable sale starting Jan. 1, 2027. The text defers to France's flat tax, which reached 31.4% following recent social-security legislation. Proponents argue the provision closes a legislative gap where swapping assets into stablecoins previously triggered no immediate tax event.

Exit Tax and Loss Carry-Forwards

A second amendment extends France's exit tax to unrealized crypto gains for tax households holding more than €800,000 in digital assets when moving abroad, provided they were residents for at least six of the preceding 10 years. A third approved measure, proposed by Daniel Labaronne, permits investors to carry crypto losses forward for 10 years to offset future gains.

Despite committee approval, the measures face further hurdles. The committee rejected the budget's entire revenue section by a vote of 31 to 3, meaning the full National Assembly will debate the government's original text beginning October 13. Sponsors must re-table the crypto amendments for the floor debate, with a formal vote scheduled for October 20.

Key facts

• The Finance Committee adopted amendments on October 9 to tax stablecoin swaps and crypto exits from Jan. 1, 2027.
• The exit tax applies to households holding over €800,000 in crypto upon moving abroad.
• The committee rejected the broader budget revenue section by 31 votes to 3.
• Floor debates on the revenue section are scheduled to begin on October 13.