France’s National Assembly Finance Committee approved proposals this week to tax swaps into fiat-pegged stablecoins and extend the country’s exit tax to crypto investors.
Amendment I-CF1826, submitted by French MP Nicolas Sansu and adopted Wednesday, would make crypto conversions into fiat-pegged stablecoins taxable events from Jan. 1, 2027.
The explanatory text describes the current tax treatment as a “loophole in the legislation,” according to a machine translation.
Taxable gains would be calculated using the acquisition cost of the assets disposed of, with a weighted average for holdings of the same token bought at different prices.
The full Assembly is scheduled to begin examining the 2027 Finance Bill on Tuesday, Oct. 13. If enacted, investors could incur capital gains taxes without cashing out into fiat.
MP Daniel Labaronne’s Amendment I-CCF798, also adopted Wednesday, would allow investors to carry forward realized…
