France’s Lower House Narrowly Backs Tax on Crypto-to-Stablecoin Trades

France’s National Assembly has voted 38-37 to tax swaps between cryptocurrencies and stablecoins as part of the 2027 budget debate. The amendment, tabled by deputy Nicolas Sansu, was backed by the finance committee last week and passed with only 100 of 577 lawmakers taking part.

The move targets what lawmakers call a loophole: stablecoins function like cash for payments and holdings, yet conversions into them currently escape capital-gains tax. Supporters argue the change would raise revenue without adding new burdens.

If the clause survives intact, the new rules would apply from 1 January 2027. The Senate still has to review the bill, and the government has signalled it may drop the provision before final passage.

Analysts warn the tax could push French traders toward gold-linked tokens or other assets to hedge volatility. Chainalysis data shows 90 % of French crypto gains go undeclared, with just 24,000 taxpayers reporting roughly $427 million in 2024.

Based on information from cryptonews.net