France’s National Assembly Pass Amendment Ending Tax Deferral on Stablecoin Swaps

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.

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