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France advances stablecoin tax, eyes self-custodial wallets and exit tax proposals

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Source: Cointelegraph
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French lawmakers narrowly approved a new crypto tax amendment on Friday that could make crypto-to-stablecoin swaps taxable events starting in 2027. France’s National Assembly adopted Amendment I-3898 on Friday, with 38 votes in favor, 37 against and 25 abstentions. The measure was initially introduced as committee amendment I-CF1826 by French MP Nicolas Sansu and adopted on Oct. 7. The Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday, according to its official schedule. Other crypto-related proposals remain under consideration, although it is unclear whether each will be debated or voted on that day. If enacted, the stablecoin amendment would tax certain crypto-to-stablecoin swaps and change how the country calculates crypto capital gains tax. French National Assembly advances Amendment I-3898 on crypto-to-stablecoin tax swaps. Source: assemblee-nationale.frUnder the proposal, investors converting their Bitcoin (BTC) or other cryptocurrencies into stablecoins would trigger a tax on the gains, even without converting gains into fiat. The calculation would use the acquisition cost of the sold crypto asset and the weighted average purchasing price.

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