France 2027 Budget: Ten Crypto Amendments Proposed, Stablecoin Taxation and Wallet Reporting on the Agenda

Huo Xing Finance reports, according to Journal du Coin, France’s 2027 budget bill was submitted to the National Assembly on October 1, and the Finance Committee has been voting on ten cryptocurrency amendments since October 7. As of October 8, three have been approved: the exchange of stablecoins classified as a taxable event (effective January 1, 2027), a departure tax applicable to crypto assets exceeding €800,000, and the ability to carry forward crypto losses for up to ten years; a proposal to extend the wealth tax to crypto assets was rejected; and a tax reduction amendment submitted by Paul Midy was declared invalid outright for violating Article 40 of the Constitution (which prohibits reducing public revenue). Additionally, the EU’s DAC8 directive, which mandates platforms to collect user identity and transaction data, has been in effect since January 1, 2026, and will require its first reporting to tax authorities by June 15, 2027, without needing parliamentary approval. Another proposal seeks to require reporting of self-custodied wallets valued above €100,000, with penalties of up to €10,000 for non-compliance. These amendments are not yet legally binding; the full Assembly will review them from October 13 to 19, with the final vote scheduled for November 17.