French Lawmakers Back Stablecoin Swap Tax by Just One Vote
Summary
French lawmakers narrowly approved an amendment to tax crypto-to-stablecoin swaps from January 1, 2027, treating them as sales and taxing gains at the flat rate, currently 31.4%. The proposal also changes how acquisition costs are calculated, with special accounting choices for assets acquired before 2027. The government opposed the measure, citing concerns about defining stablecoins and tracing portfolio reallocations. The amendment is not law: the Assembly will vote on the budget’s revenue section before it moves to the Senate. Other proposed crypto tax and reporting measures remain under consideration.
